American sneezing... after PIGS catch the cold

Australia will definitely catch the cold today!

I think I picked the right time to sell QBE... the lot. So nice to have cash to splurge today :-)

But it is better to wait for tomorrow. China's mineral requirement is not going to vaporise in 1 day just because an increase in interest rate there. Commodities have plunged by 5-10% in value but the AUD is down 1%. Gold is retreating too but it is still over USD$1300.

It is the PIGS' fault, affecting the USA. Portugal Ireland Greece and Spain.