Australia slashes interest rates

One of the last remaining properly functioning democracies and independent sovereign states in the Western world today led the way with a full one percentage point interest rate cut, its stock market immediately rebounded. The cowed, corrupted and dithering ex-democracies of the EU with their robotic, incompetent and collegiate leaders all day did nothing as their stock markets (drivers of their economies and thus their citizens life-support systems) went into a nose dive. All reports indicate they today plan to again sit frozen behind their desks as the world suffers a repeat performance of yesterday's disastrous falls. The Bloomberg report on the Australian rate cut is here.