Archive for November, 2009
Since we last spoke
Thursday, November 26th, 2009 | Business, Economy | 1 Comment
How quickly the world changes; at least here anyway. The sharemarket has bounced back, the big four banks have increased their market share and interest rates are going back up. Property exuberance is back in all Australian capital cities, employment figures are better than expected, and the IPOs are returning – a sure sign of recovery. And how quickly we forget. China and mining, mining and China – the saving grace. Technically Australia never entered a recession, which is amazing given the rest of the world including the UK, Europe and the US. It seems we have disentangled from the US, at least somewhat, in a further indication that in fulfillment of the popular prediction China has emerged as the next emerging super power. (Yes, the use of emerged and emerging in one sentence was intended.) The collapses – including but not limited to ABC Learning, Babcock & Brown, Storm Financial and Great Southern – which left so many investors with so much less money than they used to have are already a memory to everyone other than those who lost money. The Ripoll Inquiry is in, now waiting on the Henry Review and the Cooper Review. The next post on businessdust – financial advice and financial advisers.