[Nate]

We are sheltered. Just imagine how much worse we'd be in an economy more strongly tied to the USA.

Now imagine how much better we'd be if we hadn't signed that free trade agreement with the US a few years back.

My uncle explained what's happening in Australia to me tonight; apparently a lot of investors were taking really cheap loans in Japan and then investing in the Australian stock market because of the good exchange rate. Then the banks started recalling the loans and the dollar started drooping and everyone started cashing in their shares and moving their cash back overseas. Thus the drop in the sharemarket and the further drop in the exchange rate.