I haven't read the commentary but the larger than expected Reserve Bank interest rate cut probably doesn't result from an optimistic assessment of the world economy.
The woes in the US did not end when the federal government seized Fannie Mae and Freddie Mac. Lehman Brothers are on the verge of bankruptcy. People are worried about the financial health of AIG, Merrill Lynch and Washington Mutual. It seems that the best place to read a digest of the business pages along with informed speculation is naked capitalism
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