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November 27, 2008



actually, in terms of raw bulk economic weight, the most of the news for the last 2 months has been relentlessly positive. ignoring the manifold news coming out of the world's big economies (usa, germany, uk, etc), if today's RBA announcements had come a year earlier, there'd've been alarums beaten for SERIOUS overheating in australia.

there is real carnage still in the pipeline. mostly driven by over-pessimistic banks penalising small business. but the heartwood remains strong and is actually bouncing back.

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