Cynthia Koons: Not only were [Australian] exports down, but imports declined too. Imports of goods for consumption fell 7%, reflecting caution in Australian households. Capital goods imports fell by 5%, a number that should be a particular concern for policy makers: A slowdown in purchases of machinery and equipment could be an early sign that investment in Australia’s resources boom is weakening.
via Heard on the Street: Australia’s Surplus Dreams Are Just That – WSJ.com.

Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.
The dreams will become nightmares when the debts upon which the maintenance of GDP over the period 2007-2011 were created. When did it ever make sense to borrow 20% of GDP to create 20% of GDP? The interest payments over a 13 year period will consume 20% of GDP. The government has no knowledge of how money is created or how debts are repaid. These are two fundamental principals of financial management. Let this decade be a lasting lesson to the people on how their country can be lost by leaving it in the hands of idiots.
Your joking right? A 20% gearing ratio at this stage of the global economic cycle is a dream for most countries in the world.