I wished for a new year with a new hope, but today the ASX had a new year with a rout! I am still wondering why the big drop, while around the world weren't doing too bad today.
Is Australia going to experience the 'US and Europe economy experience' soon? Today's local economic data does not look pretty. In the year to May, building approvals fell by 22.4 per cent. What will it mean to the housing price?
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