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In Vino Veritas : Wine Sampler 2
more sub-prime mortgage problems in Negativity stirred up by the debt problems in the US was responsible for two slumps in the Aussie share market last year, but local stocks still managed an annual total return of about "There is hope that the booming Asian region will continue to grow at breakneck speed and in doing so offset any slowdown in the US,'' said wise-owl.com senior equities analyst Simon Guzowski. "In addition to this, we expect the US Federal Reserve to kick-start the US economy,'' he said. Australian economy challenges for the new Labor Federal Government was controlling a booming national economy. "The Australian economy remains very strong and is heading towards 5 per cent growth amidst skills shortages and accelerating operating costs,'' he said. rising disposable incomes, tax cuts and a strong labour market have all contributed to the strong Aussie economy. "Business conditions are also at record economic growth, stresses were starting to develop in the Australian economy including skilled worker shortages, housing affordability, water shortages and clean energy generation. But the prospect of a recession in Australia seemed remote. Global economy Many analysts expect a recession in the US, the world's biggest economy, as the sub-prime woes continue to hit banks and the housing sector. BankSA managing director Rob Chapman said the extent of the sub-prime problems would not be clear for months because impacts they had felt. Elsewhere, China and India are leading the way in economic growth, while other Asian countries are also growing strongly. Gray said the global stresses should see "At this stage we expect that an easing in monetary policies in countries such as the US, combined with the strength in emerging economies such as China, will to some extent offset the weakness in U.S. housing and the consumer, and should allow the global economy to experience a than a collapse,'' he said. Mr Guzowski said the biggest threat to global growth was the freezing up of liquidity in credit markets. 16 FINANCE 2008 year of the bear? AUSTRALIAN PROPERTY INVESTOR Available at leading Newsagencies or by Subscription at www.australianpropertyinvestor.com 8
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