Australian sharemarket up 34.9% since March

[the australian] The S&P/ASX200 "has now risen for five consecutive months and has soared 34.9 per cent since closing at five-and-a-half-year low of 3145.5 on March 6, a date that now appears to mark the bottom of the bruising global bear market."

Australia avoids recession

[the australian] "Australia has avoided a recession after a surprise burst in the nation's trade surplus saved the economy from negative growth... the Australian Bureau of Statistics revealed today that the economy for the March quarter grew by 0.4 per cent."

Update: ... and the S&P/ASX 200 closed above 4000 for the first time in 7 months.

Ruddnet is too good to be true

[The Australian] Malcolm Turnbull shares his opinion on the politics and economics of the National Broadband Network proposal.

Lake Eyre's waters bring dead centre to life

[the australian]

$42b Australian economic stimulus package approved

[smh] "About $12 billion in one-off cash bonuses to low and middle-income families and workers will be paid from mid-March while the states and Canberra can begin rolling out more than $28 billion worth of spending on school repairs and upgrades, building new homes and providing free ceiling insulation."

Spend my hard earned tax dollars wisely, my fellow Australians. Spend it on restaurants, local food, local beers; pay someone to do your ironing and your gardening. Whatever you do, don't you dare save it for a rainy day or make an extra payment on your mortgage.