Well at least that is what the IMF is saying. They are expecting the Australian economy to shrink faster than the global average this year.
Can’t say i agree with them and it has nothing to do with patriotism but just the general feel i get on the street here in Australia on a daily basis. Sure, if you were part of the structured products industry or were in a trading role you either no longer have a job/industry or have you wings severely clipped but we are weathering the storm pretty well down here. No real housing bubble to speak of, no subprime crisis and the Chinese looking to buy any natrural resources company that isnt nailed down in preparation for their next big swing.
I think we will do better than average thank you Mr IMF!
