Australia surpasses US in financial rankings..

[spookyturtle 9,465]

Looks like a good time to live in Australia.

AUSTRALIA has beaten the US to take second spot in a list of financial rankings, behind the UK.

The US slipped from first to third place in a ranking of financial development released by the World Economic Forum overnight, as the global financial crisis badly hurt bank stability in developed countries.

Australia jumped nine spots to be placed as the world's number two financial centre.

While most of the 55 countries covered by the report saw a significant drop in their financial scores, emerging economies fared comparatively better in the ranking, which takes into account some 120 variables from stability to size and depth of capital markets.

Australia, one of the first countries to start withdrawing stimulus by raising interest rates, rose from the 11th to the second position underpinned by a combination of bank efficiency and stability, as well as low risk of sovereign debt crisis.

JJ of Sydney Australia and Brazil were among the few countries to see a modest improvement in their overall financial development indicator, despite the impact of the crisis.

Developed nations performing poorly

Developed nations are still leading the ranking, but in the past 12 months they have performed so much worse than emerging countries that their lead narrowed significantly, WEF chief operating officer Kevin Steinberg told reporters.

"This year they dropped so much that they don't have a lap of advantage in relation to emerging countries anymore," he said, stressing that evidence shows stable and developed financial markets are preconditions for economic growth.

Growing financial instability was the main issue for developed countries in the past year, while lack of access to capital markets and banking services remains an ongoing challenge for developed economies.

"There is a trade-off," said RGE Global Monitor's Nouriel Roubini, a co-author of the study. "Countries with more regulation in financial systems are more stable, but access to credit is much weaker."

In a sub-ranking of financial stability, UK and US banks tumbled to the 37th and 38th positions, much below emerging countries such as Mexico and Brazil (at 14th and 15th places respectively) and only a few positions ahead of Venezuela (at 42nd place).

Norway, Switzerland, Hong Kong and Chile lead the financial stability ranking, while Argentina, Kazakhstan and Ukraine are at the bottom of the list.

Germany, France slump

Germany and France suffered a heavy fall in their overall scores that pulled them out of the top 10 group of most developed financial systems.

At the bottom of the overall ranking are Ukraine, Bangladesh and Venezuela.

- With Reuters

[Heracles 417]

I am starting to look like an idiot being here.

At least no one can say I didn't try to help by at least pointing out a better way of doing things out. Perceived by some by US bashing. I hope US auto makers did not have this same attitude when some tried to suggest Honda and Toyota are building better cars. Then again you did do it to Deming and ridiculed his advice, even though this American greatly improved Japan. in many ways, was the founding father of Japan's modern day success.

Edited October 10, 2009 by Booyah!

[Heracles 417]

Not to rub salt in the wound but is it a good time to mention spook that the Australian dollar has reached 90 cents to the dollar.

[spookyturtle 9,465]

I am starting to look like an idiot being here.

Now that's an understatment if I've ever heard one.

[Ban Hammer 13,251]

I am starting to look like an idiot being here.

Now that's an understatment if I've ever heard one.

[Heracles 417]

I am starting to look like an idiot being here.

Now that's an understatment if I've ever heard one.

They have moved up every single ranking. I need to add this to the list I posted the other day. Did you noticed how many #1 they have? just saying

If you weren't so dumb, you would be using this against the repubs. That social democracies policies can and do work. Furthermore, that they are beating the ultra-capitalist US. Instead you let your hatred of me block this good point.

Edit: By the way spook, remember when you said I was talking out of my azz regarding the UN ranking AUS 2nd? Read and weep. http://www.visajourney.com/forums/index.php?showtopic=221766

PS I also hope you're paying attention to my sig. They have managed to do all this with 5 weeks off for their workers.

Edited October 10, 2009 by Booyah!

[spookyturtle 9,465]

I am starting to look like an idiot being here.

Now that's an understatment if I've ever heard one.

They have moved up every single ranking. I need to add this to the list I posted the other day. Did you noticed how many #1 they have? just saying

If you weren't so dumb, you would be using this against the repubs. That social democracies policies can and do work. Furthermore, that they are beating the ultra-capitalist US. Instead you let your hatred of me block this good point.

I'm not dumb at all. I live in a country I love. The only dumb one here is you.

[Heracles 417]

I'm not dumb at all. I live in a country I love. The only dumb one here is you.

I must have missed the post where I stated hated the country.

I prefer Swiss cheese too, that must make me a real hater.

PS. There is a link in my previous posts you need to click on.

Edited October 10, 2009 by Booyah!

[spookyturtle 9,465]

I'm not dumb at all. I live in a country I love. The only dumb one here is you.

I must have missed the post where I stated hated the country.

I prefer Swiss cheese too, that must make me a real hater.

PS. There is a link in my previous posts you need to click on.

Like I said, I'm happy and proud to live in the USA. I wouldn't trade it for anything.

[meowmeowmeow 1]

i should move to Oz.

[spookyturtle 9,465]

i should move to Oz.

Take BY with you.

[MrsCat 6]

[meowmeowmeow 1]

i should move to Oz.

Take BY with you.

uh.....na, i think he's more needed here in the good ol' US of A

[spookyturtle 9,465]

i should move to Oz.

Take BY with you.

uh.....na, i think he's more needed here in the good ol' US of A

We have enough hemorrhoids.

[Heracles 417]

Like I said, I'm happy and proud to live in the USA. I wouldn't trade it for anything.

Small Business owners do quite well there, so it's probably best you stay here. You realize that since the dollar has gone up, all of those amounts I quoted about median house price and median salary (per person) are much higher.

Just remember which of the G20 was the first to increase their interest rate. Their savings account are paying up to 4.5% interest.

uh.....na, i think he's more needed here in the good ol' US of A

I would need to clone a good 5,000 booyahs to make any progress. My friend is Syrian and his family has done well in AUS. Started from nothing as well.

Edited October 10, 2009 by Booyah!