i have heard of share prices getting smashed.., page-14

The Australian economy is really quite fragile - we have a debt-laden financial and household sector that could unravel very quickly if our export earnings decline.

The foreign currency we earn from mining helps to cover a yawning Net Income Deficit - more than $43 billion net (largely securitised mortgage payments) was sent overseas in CY 2009. With around $800 billion in net foreign debt (and rising) could make Greece look like a morning picnic if the cards don't fall Australia's way.

Rudd is playing with fire.