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Don't go wobbly on us now, Ben Bernanke

Discussion in 'The Economy' started by Tropo, 1st Mar, 2010.

  1. Tropo

    Tropo Well-Known Member

    17th Aug, 2005
    Barack Obama's home state of Illinois is near the point of fiscal disintegration. "The state is in utter crisis," said Representative Suzie Bassi.
    "We are next to bankruptcy. We have a $13bn hole in a $28bn budget...
    more...Don't go wobbly on us now, Ben Bernanke - Telegraph
  2. Chris C

    Chris C Well-Known Member

    2nd Apr, 2008
    Brisbane, QLD
    I thought these comments were pretty ominous...

    Of course Australia is a completely different story, be it due to unabated irrational exuberance or different underlying fundamentals to other western countries, it would seem that Australia's hole hearted belief in property has kept our M3 growth slightly on the positive side of the last 12 months, with only a couple of monthly moves into negative territory.

    It would also seem this trend is continuing for Australia with January showing some good credit growth numbers, still being largely driven by housing credit growth, yet I just can't help but be nervous about our own prospects for continued credit growth if other major western countries are going to accept the inevitability of credit contraction, deleveraging and deflation, coupled with the already tighter monetary policy in China.

    Let's hope the western world doesn't pack away the printing press just yet - well at least not until I have sold my IP...