Kids Money

Sure the world is financially sick but Australia is in a league of its own. As we’ve been saying for a while, this is the best place in the world to ride out the global turmoil and last week’s economic growth figures are testament to that view.

Economic growth of 1.2 per cent for the June quarter was a lot better than gurus predicted and if it wasn’t for the setback from the floods and cyclone earlier in the year our economy would be growing by about 4 per cent.

The sheer size of the commodities boom is certainly skewing the economic averages, but even so the economy seems to be expanding across the board.

We still stick by the view that most people should forget about sharemarket gyrations and just focus on China still buying our minerals and property prices staying solid