Articles on Global economic shakeout

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If we’re facing a downturn, the right thing to do to drop the insistence on returning to surplus.

Should we return to surplus by 2012-2013? The case against

In the face of the global financial crisis of 2008-09, the Australian Government’s overall fiscal policy response was both well-timed and well-calibrated (even if some of the specific programs within that…
The only way out of this crisis is to dishonour some of the debt that is weighing down the global economy. AAP

Ireland, Greece … France? Accepting default is Europe’s only option

The dramatic falls in share prices of Greek debt-laden French banks overnight highlights just how closely tied the current market chaos is to the world’s worsening debt woes. Market crashes like that of…
The median expected inflation rate dropped this month compared to July, most likely driven by the economic turmoil in the US and Europe, as well as the domestic stock market. Flickr/Krug6

Consumers see inflation staying within RBA target

Consumers have softened their expectations on price rises, with a new survey showing that more people this month think inflation…
The share market is often driven back into the black by canny investors looking for a bargain. AAP

Global economic shakeout: the zig-zag market heralds nasty times ahead

After falling by almost 20% in week-long sell-off, the Australian share market has bounced back and began trade today up more than 3.5%. The market’s recovery follows a strong comeback on Wall Street overnight…
The US must “choose between bankruptcy, raising taxes and cutting payouts”. AAP

Not China, not S&P: why the US has only itself to blame

If the United States thought it could stave off its day of reckoning, it was wrong. Standard & Poor’s prompt downgrade of US credit worthiness late Friday sent stock markets worldwide into a nosedive…
Stock markets around the world plummeted after news of the US credit rating downgrade (EPA/FRANK RUMPENHORST)

Debt dive: why is the US at the mercy of anonymous credit agencies?

Without the firing of a single shot in anger, a country has been, at least in a sense, brought to its economic knees. The capitalist system, with variations and aberrations, is now reacting. Shares are…
As a new global financial crisis looms, Australia shouldn’t overestimate its dependence on China. AAP

Is Australia’s economic stability really made in China?

Amidst the widening global financial turmoil, a strong Chinese economy is certainly one positive for the Australian economy. But should we believe it is only factor that will save the day? The answer is…
Can China continue to float our boats as the global economy teeters? AAP

Amid global market turmoil, can China keep our economy afloat?

Federal Treasurer Wayne Swan has seized on positive comments about Australia’s economy in an International Monetary Fund report as evidence the country can endure another global financial crisis. The report…
Global markets have fallen dramatically over fear of a US double dip recession and global downturn. AAP

Global market carnage: experts respond

The Australian share market has followed Wall street overnight and other global markets, with as much as $60 billion wiped in value throughout the day. The Reserve Bank of Australia has cut the forecast…
Standard & Poor’s could still downgrade the US credit rating, despite the debt ceiling deal. AAP

Explainer: the role of credit ratings agencies

Washington lawmakers in the US House of Representatives have passed an agreement hammered out between Republican and Democrat leaders designed to avert a US debt default. The move is a further step towards…

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