While financial markets have been focused on European and US debt problems, the real issue is clearly global economic growth, which now appears to be faltering badly.
The Baltic Dry Index has barely moved over the past month, a fact which has escaped hysterical share traders and expert commentators, but one which is very good news for Australia, especially WA.
The revelation the state government’s Office of Shared Services is to be disbanded after costing taxpayers almost $450 million over six years is just the latest in a long line of public sector financial disasters.