Friday, Dec 19, 2008
The world economy will contract next year for the first time in almost half a century, according to
bloomberg: “The GE downgrade is another sign the world economy is in big trouble,” said Joe Capurso, a currency strategist in Sydney at Commonwealth Bank of Australia Ltd. “For a small, open economy like Australia, our fortunes are tied to what happens overseas.
The Australian and New Zealand dollars dropped as equities fell after General Electric Co’s debt-rating outlook was changed to negative, prompting investors to shun higher-yielding assets
Posted by chris @ 02:29 AM (184 views) Add Comment
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