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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (104751)9/1/2009 4:36:45 PM
From: Elroy Jetson  Read Replies (1) of 110194
 
If the Current Account deficit is what scares you, then Australia has much to fear.

Australia has no governmental debt but like the U.S. they're running a huge Current Account deficit, primarily due to the undervaluation of China's currency. What's to become of them? Few Australians care about this.

Australian consumers and businesses also have high debt to income ratios, not as high as in the U.S. and certainly not as high as in the U.K. but they too will experience a relatively high level of personal and business bankruptcies. There is no reason for the Australian Reserve Bank to panic about this, and there's no reason for panic here either.

The problem with China will adjust itself.
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