the aussie dollar dropped huge this week, now its half the euro.
everyone's so jittery about money right now, which is funny cos an entire generation of working australians have known nothing but a booming economy and low unemployment. also the word is we're somewhat better placed than most countries in the event of a global recession (or depression...) cos we don't have a government debt and do have some regulations in place. im no economist though so don't quote me on that. of course we'll still be hit hard though. travelling is gonna slow down quite abit, and from that i suspect possibly a more communal sentiment to grow (a poorer economy curtails individualistc pursuits).
everyone is focused on the american election right now, as if our fate is dependent on it, and it probably is, due to the closer ties we've fostered in the past decade (the coalition of the wiling, the free trade agreement).
politically here's how i call it. Rudd is going nowhere fast and i dont see a happy ending for his prime-ministership (too much chattering, too little action). I DO however see Julia Gillard as the big up and comer and possibly the prime candidate for a GC role. hell, she's already clocked up a few weeks of acting PM
. most importantly though she seems to be a rationalist and a uniter and i can see those on the right crossing the aisle.
the liberals are rebuilding. they'll most likely collect more states in the coming years (presuming they eventually do find some candidates who aren't weirdos). they ultimately seem like they wanna hang in there till the public turns against labor for a bad economic situation. could be a long few years for them though.
the crisis almost certainly has to be a depression and a foreign war. australians just don't do civil disorder and revolutions. but i guess you never know (what do you think tristan?). maybe we'll be mercenaries for other countries?
another scenario i considered would be if Rudd's emissions-trading scheme was introduced, resulting in all our industries moving offshore to the cheaper and less-restrictive china market, thus severely exacerbating an already perilous economic situation. no way he would do it now though.