Sunday, February 12, 2012

Australia is the new USA

Sunset © fintag

News comments:
Australia. The land of plenty (if you can get in).

Thanks to China, Australia will soon be the new USA. Despite having a fraction of the people, it is home to soon to be the richest woman in the world (ousting out Walton, the Walmart heiress). Its debt is falling and the second richest Australian works for Glencore. Mining trumps moving money around.

As wikipedia says

"Australia's per-capita GDP is higher than that of the UK, Germany, and France in terms of purchasing power parity. The country was ranked second in the United Nations 2011 Human Development Index and sixth in The Economist worldwide quality-of-life index 2005. [2] [3] Australia's sovereign credit rating is "AAA", higher than the United States of America and Australia's four 'Big Banks' are among the 25 'Worlds Safest Banks of 2011'.[20] Australia has highest ratio of assets to population than any country in the World. The country's government debt to GDP is the lowest among OECD countries. The Australian government aims to run surpluses from 2012/13."

Ok. This is just filling. Like you I am waiting for this Greek debacle to end because it is clear the fixed income run is dead and equities are where its at for 2012. But for the boom in cash rich, high yielding equities to start Greece must leave the Euro.

Today's shorts:
Welsh woman loses out on carbon (theaustralian)

Today's longs:
Glencore catches up with Facebook (smh)

Australian beats China at Cricket (thecourier)

Country pleads for help (theaustralian)

United States of Australia.


Anonymous said...

We support a strong AUD policy!!

Anonymous said...

You may not think mining is more fun than moving money around after spending 2 weeks in a tin donger 300kms out of Emerald like I just have ....

Corp Tax said...

The problem with Australia, it's full of obnoxious pom bashing aussies.

Anonymous said...

How safe do you reckon those banks would be if the worlds most expensive property market corrected?

Anonymous said...

fed comments

Anonymous said...

"The problem with Australia, it's full of obnoxious pom bashing aussies."

That's a problem?