EDITORS' PICKS

S&P's false ratings alarm
Alan Kohler
The S&P downgrade of US debt is undoubtedly historic and will certainly put investors on edge but, given the move was more political than financial, the reality isn't that alarming.

Time for an EU cash blitzkrieg
Alan Kohler
Panic is again gripping markets and the only way out of the mire will be action from Europe which is so great as to convince investors the moves are overkill.

Snacking at a speculators' picnic
Robert Gottliebsen
Stunning market gyrations are hard for the average investor to comprehend, but it does appear we may have reached a short-term bottom, helped out by a friendly push from the US Fed.

China sounds a dollar warning bell
Robert Gottliebsen
In the wake of the S&P downgrade, all eyes should be on America's main banker, China, which clearly believes it's time for a new global trading vehicle.

Rate cut reality is creeping closer
Stephen Bartholomeusz
David Jones' sales figures, along with weaker jobs numbers, are consistent with a non-resources downturn that is fracturing confidence and could see the RBA cut rates significantly in the next year.

Dawn of a new traders' era
Stephen Bartholomeusz
This bear market could be severe and prolonged. Despite our relatively strong fundamentals, Australian investors may have to get used to a sharemarket tracking sideways, essentially a forum for traders.

French debt on a razor's edge
Karen Maley
France faces extreme difficulty in reaching debt-reduction targets and real fears remain of a rating downgrade, which could threaten the eurozone bailout fund.

How China can save the West
Karen Maley
The best way for China to help the Western world out of its slump is to allow its currency to rise sharply. But this appears unlikely, making the current situation even more dire.

The death knell for social democracy
Rob Burgess
Falls on all major global bourses show a final collapse in confidence that the social-democratic policies in Europe and the US are sustainable.

The Gillard reforms hang by a thread
Rob Burgess
In the face of financial slaughter, any electoral will for a carbon tax would vanish, in which case Julia Gillard may as well call an election and be done with it.

TECHNOLOGY SPECTATOR: The Opposition's NBN handbrake
Paul Budde
By election time, more than a million Australians will be connected to the NBN, so it's a mystery why the Opposition hasn't delivered a more forward-looking plan for broadband.

CLIMATE SPECTATOR: Rating the climate risk
Giles Parkinson
HSBC has rated the G20 countries and their heightened investment risk from climate change. Australia is vulnerable and exposed, but it is also best placed to adapt.

Setting a European time bomb
Oliver Marc Hartwich
The ECB's move to purchase Italian and Spanish bonds is just an exercise in buying time – one which may create liabilities too big to be borne by anyone.

Hiding in Australia's property hedge
Christopher Joye
As panic besets sharemarket investors, property remains a surprisingly resilient store of wealth, which is likely to continue given the RBA's flexibility on interest rates.

The global economy's Terrible Trio
George Friedman
The financial crisis has morphed into a political one, enveloping the three economic superpowers – the US, EU and China – and threatening economic paralysis.

Keep calm and carry on
Christopher J Tipler
In spite of the dismal economic news, there are some simple ways to cut the negativity and anxiety. Like an ocean swimmer, a good manager must keep moving forward through choppy water.