Word: australia
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...Australia is so way Down Under that what happens there often seems far removed from the rest of the world. Not this time. The Aussies' aggressive tightening is seen as the start of the global exit from the unprecedented liquidity governments have injected into their financial systems to avert an economic depression. (See pictures of the global financial crisis...
...Australia's central bank, inflation and asset bubbles in an environment of easy money evidently now trump worries of a second-dip recession. Its October and November decisions, which raised interest rates from 3% to 3.5%, are meant to keep inflation between 2% to 3% in 2010. The country's consumer price index as of September actually rose just 1.3%, but the fear is that the resurgent economy and government's $38 billion in cash handouts and infrastructure spending will push inflation above...
...other economies start to withdraw their programs and tighten monetary policy bring more uncertainty to the prospects for the global economy. One early casualty is the U.S. dollar, which has weakened significantly against most other major currencies. A continued fall appears likely as investors park their capital in Australia and elsewhere, because interest rates are trending higher there and economic growth is far more robust than...
...wonders what deeds of valor are commemorated by the medals adorning Than Shwe's chest. Tony Turner, Tuross Head, Australia...
...take the top predators out, the ecosystem begins to get out of balance." On land, when top predators like lions or wolves die off, lesser ones like baboons or coyotes flourish, throwing an entire food chain off. The same goes for oceans. Scientists believe stocks of southern bluefin around Australia have likely fallen over 90% since the 1950s and could continue to drop. Of the world's 19 non-bluefin commercial tuna stocks, half are now overfished or at risk of going that direction, according to the International Seafood Sustainability Foundation (ISSF), a partnership of canning companies, scientists...