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Australian Economy

PM appeals in vain to the shafted generation

Generation Y, Kev wants you on board. During Kevin Rudd’s comeback leadership victory speech he had a message for our young generation: Before I conclude, let me say a word or two to young Australians. It’s clear that many of you, in fact too many of you have looked at

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Australian Economy

Who’s unqualified to run a modern economy?

Treasurer Wayne Swan describes today’s 25 basis point cut to the official cash rate as “the early Christmas present that hard working Aussies deserve.” In a press conference after the Reserve Bank announcement, Swan told Australian’s “We’ve now had the equivalent of seven rate cuts over the past year and

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Australian Economy

The Lucky Country’s Housing Industry is in Crisis

The Sydney Morning Herald reported on a Housing Industry in crisis yesterday with more than 363 companies from the building industry hitting the wall since January 1. The Herald’s Adele Ferguson writes “What is even more alarming is the trend seems to be getting worse, with 30 building companies failing

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Australian Economy

Will Rudd bring the house down?

Last year Deputy Governor of the Reserve Bank of Australia, Mr Ric Battellino addressed the 7th ITSA Bankruptcy Congress with an update on household finances. In his speech, he raised differences between the Australia and U.S. housing markets : “A third important difference between Australia and the US is in