Australian Stock Market Report – Afternoon 12/14/2012
Afternoon Market Report
John Boehner, the Republican Speaker of the US house of Representatives, addressed the media in Washington in US time last night. Not for the first time he said President Obama was not committed to making serious spending cuts and as a consequence the US economy will go over the fiscal cliff. With 18 days left in which to strike a deal, the language still being used in public exchanges between the two parties is less than inspiring. Global markets have recognised the latest salvo as being more of the same from US politicians. Winston Churchill famously said that 'you can rely on Americans to do the right thing once all other avenues have been exhausted'. Lets hope that there are fewer avenues to explore than there are ays left in the year.
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