THE DISTILLERY: Debts and Dr Doom

Scribes fret over the fiscal situations in Australia and the US, while a market warning from Marc Faber adds to the negativity.

The tone of the macroeconomic commentary this morning is noticeably negative. Two Australian business writers are focusing on the US fiscal cliff scenario, where simply driving over the edge could prove to be the best option. There are some parallels between the US debt situation and the debate in Australia, says one commentator, with another focusing on a big correction prediction from a notable market bear.

Firstly, The Australian’s Judith Sloan argues that the best option for the US in regards to the fiscal cliff is to jump.

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