Read Ambrose Evans-Pritchard’s neat round up of massive new USD money-printing versus debt deflation (UK Telegraph) http://bit.ly/9BD4vE

US Jan-Mar 2010 rGDP growth revised down to 2.7%. Profits up, buck trend.
http://www.bea.gov/newsreleases/national/gdp/gdpnewsrelease.htm

Babyboomers: forgive us our debts — http://www.economist.com/node/16397110

ABS: Australian government debt jumps 10.6% in just 3 months (Jan to Mar 10) to $213.1 billion. http://alturl.com/awz3

Australia has population of 22.2 million with a 2% gain over 2009 most from immigration as natural increase falling. http://alturl.com/pzzs

IMF: idea that it issue a new reserve currency named ‘bancor’ in honour of Keynes as US Fed may lack liquidity: http://alturl.com/8rjy

wisdom of a man in every instance of his labor to hitch his wagon to a star and see his chore done by the gods themselves (apol RW Emerson)

The Lucky Country hooking its star to China.
http://news.yahoo.com/s/afp/20100621/bs_afp/australiachinadiplomacytrade

US deficits may be tougher to fund with a strengthening yuan: http://money.cnn.com/2010/06/19/news/economy/china_exchange_rate/index.htm

The hangover worse in Vegas – http://www.lvrj.com/business/nevada-_x92-s-unemployment-rate-tops-in-nation-96647594.html

Russian central bank may start buying AUD for part of its reserves.
http://www.bloomberg.com/apps/news?pid=20601087&sid=axkjfa7vQXWg&pos=3

Christopher Hitchens slates Prince Charles as a moral and intellectual weakling http://www.slate.com/id/2256915

FT: Australian voters known for their “fair go” mentality: http://tinyurl.com/24yx3dt

USA TODAY does a nice job dumping on Generation Y, but blame belongs with the baby boomers http://usat.me?38297510