I quite like toast, but in the context of the headline it means the Australian economy is in trouble
The piece is in the Sydney Morning Herald, here's the link: Foreign investors have turned especially bearish on the Australian economy, with one describing it as "toast", a National Australia Bank report says.
In brief:
Chief economist Ivan Colhoun said a recent visit to clients in Britain, continental Europe and the Middle East revealed a "uniformly negative view on Australia's prospects".
"I have never experienced such overwhelming negativity on the outlook for the Australian economy and Australian dollar in all my years marketing the Australian economy offshore," he wrote on Monday.
I've seen the NAB piece and, yeah ... the views are overwhelmingly negative for the Oz economy.
Maybe I need to go live somewhere else? Anyone (not in Australia, obviously) got a spare room? :-D
Only kidding.
Colhoun goes on:
The bearishness reflected negativity on the usual culprits, namely mining, China and housing, though on each topic we had a number of qualifications counter to these arguments
I won't go through the counter arguments from National Australia Bank, but suffice to say NAB are not nearly so bearish.
