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Australia's Mining Bust Turns Towns Into Ghost Towns; Expect Interest Rate "Shock and Awe"

MishTalk

One real estate agent said “a hell of a lot” of property was on the market – about 400 houses were for rent or sale and buyers were scarce. The Australian dollar fell sharply on the announcement of a cut, dropping to a fresh 5½-year low, while the stock market surged to the highest level since May 2008.

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Reflections on 2013; What's Important, What's Not? What's Ahead?

MishTalk

Before the housing crash, people referred to Greenspan as " The Maestro ". Trillion Yuan in Audit The Washington Post notes "Local debt now equals about 33 percent of China’s gross domestic product, up from about 10 percent in 2008 and almost nothing in 1997." Budget deficits were revised higher, and growth revised lower.