Tuesday, October 7, 2008

Aussie, Aussie, Aussie

Oi, Oi, Oi.

Yeah, okay, it's a big honking rate cut.

Scuttlebutt has it that there might be some coordinated activity in the works, which this RBA rate cut is a sign of.

I'm a bit skeptical of this, but you never know.

However, with their rate now down "all the way" to 6.00 percent, a very high employment rate and a huge public works infrastructure project in the pipeline, funded by recent record exports, I'm still unsure why anybody thinks Australia is a bad bet.

Unless their banking system is about to collapse, like they'd have the only banking system with that particular issue, they seem to be in a much stronger position than most right now.

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