I follow Techcrunch daily and today came across this little gem. Whilst slightly off the trading topic it can broadly be related to the plight of many developed economies.
What do we manufacture in Australia that is exported globally and is a market leader? I can think of few pharmaceutical products and some small engineering plays but it would be a pretty short list.
It’s these truths that caution me against the current market bull run and whether or not it can be sustained in the short or long term. The credit crisis which brought down markets was a crictical structural problem and I can’t see how a recovery can form without major structural change. What have we done to change yet?
Happy trading.
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