Good morning friends,
The US Congress has rejected its own cooked up proposal to throw $700 billion worth of floaties to the sinking US economy.
What does this mean? Well immediate effects = record drop in Dow Jones index, damaging blow to John McCain's (suspended) campaign efforts after his hand-on-heart support for the bill, a few US regional banks will probably file for Chapter 11 in the next 24 hours, Seek.com will receive a record number of hits from investment bankers looking for a change in career.
And in Oz? It's all about China. If China is affected by the US then in turn, Australians will feel some pain. In fact, there will be some pain no matter what. One word - superannuation. (I really should go to a seminar about that one day...)
What to do? Perhaps pass on the foie gras for now.
The question is - will the Milk Arrowroot of an economy make it?
In other news, a man has died in England from gorging on his own 'super hot' chilli concoction. I must say, the news shocked me deeply as I am a large fan of chilli. This is a sad day for chilli lovers and those prone to spice in their life.
More details here
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