Bloomberg.com: Top Worldwide

Bloomberg.com: Top Worldwide

Bloomberg reports that Australian Employment Unexpectedly Declined by 42,300. This is the first decline for this booming economy in 10 years. Resource rich Australia has benefited from the super growth of China.

This is the kind of bad news that is very good news. The US stock market needs this and additional indications that the world economy is not growing too fast. The world needs a little breathing room for resources to catch up with demand.

There are many indications that demand growth is slowing. When the evidence becomes over whelming, the Federal Open Market Committee (FOMC) will stop raising short rates. The counter movement today was in the ten year bond rate. The rate is pusing 4.5%, not a high rate but the increase shows that growth, inflation or both are still possibly too strong for comfort.