- Foreigners cashing in their shares while the Aussie dollar was high (I reckon some of these foreigners knew the Greek problem was going to cause a downturn) - Signs that China is slowing. The Aussie economy seems to be something of a one trick pony at the moment. - Over inflated housing market. If China slows so does the housing prices in certain areas eg Karratha (WA). - Some slight worry in regards to the carbon tax & mining tax. Electricity & gas prices has risen a fair bit all around Australia as have fruit & veg & meat prices. This is causing consumers to spend less on other things like clothes etc. The carbon tax may cause a further slight increase in electricity prices. A state like WA will probably be hit the hardest because of long freight distances. I think its a bit hard to tell exactly what these taxes will do to the economy and the market hates uncertainty.
