Some good articles in the first of the broadsheets I have had a look at this morning – the rabid, knee-jerk, doom-and-gloom that has been spewing out from almost all of the media is retreating a little, and some sensible balance is returning (maybe the TV news is going to take a while to catch up though).
Why hasn't the global financial crisis hit us like it hit the rest of the Western world?
(in a nutshell: rural and mining export performance, stimulus payments, interest rate cuts, & financial system strength).
Everything points to a bearable recession
“It's getting a lot easier to believe the recession won't be as severe as many (including me) have feared.” – Ross Gittins in the SMH.