http://www.smh.com.au/business/markets/fitch-upgrades-australia-to-aaa-20111129-1o41j.html Fitch upgrades Australia to AAA ~~~~~~~ Does this mean the S will HTF soon?
which means a lot of cash is about to flow to aud soon. we might even gain safe haven status for a while.
Aussie can be AAA because the Australian government can print money at will. This is something that Euro Zone can not do. The US *can* do it but at the risk of their world currency status. Iceland could have done so but their citizens did not want to pay the debts of private organisations.
No doubt JG and that loser treasurer of hers will be claiming credit for this. Clearly Fitch didn't notice that the economy is being run by a bunch of amateurs.
The ECB can also print money at will. Currently its only the Germans stopping them from actually doing it...
Japan is already screwed, and China will be within the next year or two... Since they're Australia's two biggest trading partners, go figure... ** POP!! WOOOOOOooooooooooooooooooooooshhhhhhh ..... **
Sorry what are you trying to say? Also I see Japan as being a kind of post growth economy, despite everyone saying their economy is in the toilet it still seems to be one of the best places in the world to live?
They based the upgrade on financial policies over the last 20 years apparently - personally I think they looked around to see who was still floating at the surface and gave the survivors AAA just so some nations would have it. AAA loses it's pizzazz if no one has it.
And that piece of $hit our trasurer wayne is still floating on the back of Howard/Costellos fiscal rectitude but with deficit spending in excess of 2 billion a week now at 223 billion and counting our floating $hit is going to sink. It took Howard/Costello 10 years to pay down Keatings 90 Billion black hole in good times. How long do you reckon it will take to pay back 300 billion? ... 30 years in difficult times? Kind Regards non recourse
When you got sub-prime mortgage got rated AAA+, clearly credit ratings don't mean Jack-Sh!t. Surely no free-thinking adults should believe in anything what these rating companies say one way or another.
I'd rather be in Singapore. If I was single, I'd already be packed and on my way... to hell with living in Deadwood.
Singapore is great only if you can toe the ruling party line and not rock the boat. Read some of the local political blogs and see if that'll change your mind.
