the rba goes cross eyed, page-5

Thorburn,

Australia’s current account deficit narrowed in the June quarter, helped by increased shipments of rural goods and gold.

The trend is your friend, or Glenn's friend. He has to wait for ECB, PBOC, FED before assessing the external risks to Australia's economy.

No, the total money-supply is not collapsing, it only moderates with economic activity.

No, foreign investors are not rushing-out. Stay calm and collected.

AUD depreciating against all major currencies, this is more positive than negative for the economy in transition.

Regarding China - its external debt is very moderate. Internal debt? PBOC is quite capable of re-capitalizing banks - if and when its needed.