"Australia's GDP growth expanded merely 0.6% in the first quarter. This was after a 0.6% rise in Q4 2012. Meanwhile, there are a lot of people shorting the Australian dollar.
Minus export growth however, Societe Generale's Albert Edwards writes that gross national expenditure (GNE) has fallen for two straight quarters.
"One of the biggest economic bubbles in history is now about to go into the Minsky masher," writes Edwards. This refers to periods of speculation that lead to crisis, and was named after economist Hyman Minsky who wrote about the inherent instability of bull markets..."
at http://www.businessinsider.com/edwards-australias-minsky-masher-2013-6#ixzz2W1kJ5800
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