In the UK Financial Times article by Darryl Thomson, Dollar falls to fresh lows in thin festive trade posted December 24, the continued slide of the USD against the Euro is put down to “disappointing US economic data” (mostly sharp slowdown in new home sales). However, a so-called currency strategist claims it is the “deficits rather than the data which were weighing on investors minds”. The hoary old neo-liberal twin deficits attack on public spending is making a comeback.
In the PMs xmas message he says that as Australians we enjoy “a prosperous and successful society, there are more Australians in work than ever before, our living standards are high and we are warmly regarded around the world” and that we should not to forget our less fortunate citizens.
Recently released ABS Statistics show that household debt has hit a record $815 billion but the growth is slowing as the property slowdown deepens.
December 24 - things have gone quiet. But not at the Centre of Full Employment and Equity (CofFEE). Today we launch our own CofFEE blog which will catalogue what we think of various things that happen in the economy, in…