Comments on: Australia and the financial crisis http://thegwire.com/2008/12/australia-and-the-financial-crisis/ Some of the news, most of the time. Tue, 22 Sep 2009 18:54:32 -0700 http://wordpress.org/?v=2.8.6 hourly 1 By: droog http://thegwire.com/2008/12/australia-and-the-financial-crisis/comment-page-1/#comment-89 droog Tue, 02 Dec 2008 15:59:45 +0000 http://thegwire.com/?p=307#comment-89 Yeah, countries that supply raw materials lag the global slowdown. <a href='http://watch.bnn.ca/the-street/august-2008/the-street-august-21-2008/#clip84829' rel="nofollow">Here's a nice Canadian lady</a> explaining how it works for Canada. Keep in mind, as Arwon noted, that Australia's fate as a raw materials supplier is tied more closely to East Asia. This means that Australia has a better chance than Canada of avoiding a deep recession given that China's infrastructure works are backed by the public sector and are thus less likely to slow down. China's infrastructure policies are one big keynesian venture, and Australia benefits from it. Yeah, countries that supply raw materials lag the global slowdown. Here’s a nice Canadian lady explaining how it works for Canada.

Keep in mind, as Arwon noted, that Australia’s fate as a raw materials supplier is tied more closely to East Asia. This means that Australia has a better chance than Canada of avoiding a deep recession given that China’s infrastructure works are backed by the public sector and are thus less likely to slow down. China’s infrastructure policies are one big keynesian venture, and Australia benefits from it.

]]> By: JohnnyCanuck http://thegwire.com/2008/12/australia-and-the-financial-crisis/comment-page-1/#comment-88 JohnnyCanuck Tue, 02 Dec 2008 15:45:23 +0000 http://thegwire.com/?p=307#comment-88 Hey, that's where we were before the ruling party screwed everything up and introduced the possibility of a coalition government taking control from them! Hey, that’s where we were before the ruling party screwed everything up and introduced the possibility of a coalition government taking control from them!

]]> By: droog http://thegwire.com/2008/12/australia-and-the-financial-crisis/comment-page-1/#comment-81 droog Tue, 02 Dec 2008 10:34:21 +0000 http://thegwire.com/?p=307#comment-81 I don't go around perusing statements from financial institutions, but this is the first time since the crash and bailout that I've seen a bank touting its S&P rating. Maybe it still happens but it's ironic. Lehman Brothers and Bear Stearns had great ratings right up 'til the very end, even as their stock was diving. S&P argue back that they only evaluate credit rating, but what good is that anyway? You loan them money and next week they're junk. They only downgrade the big players after it's too late. Hey! Maybe children flunking their courses in <a href='http://thegwire.com/2008/11/are-they-going-to-have-to-call-it-incompleteblog-in-saskatchewan/' rel="nofollow">Saskatchewan</a> can receive a triple A rating from S&P. That's a nice, decorous way of saying how much you suck. I don’t go around perusing statements from financial institutions, but this is the first time since the crash and bailout that I’ve seen a bank touting its S&P rating. Maybe it still happens but it’s ironic. Lehman Brothers and Bear Stearns had great ratings right up ’til the very end, even as their stock was diving. S&P argue back that they only evaluate credit rating, but what good is that anyway? You loan them money and next week they’re junk. They only downgrade the big players after it’s too late.

Hey! Maybe children flunking their courses in Saskatchewan can receive a triple A rating from S&P. That’s a nice, decorous way of saying how much you suck.

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