Australia can thank the booming price of its biggest export iron ore, which currently brings in $136 billion a year, for thrusting the economy ahead of Brazil and bringing it close to Russia in a little over 12 months since the covid-19 pandemic began.
Australian triumphalism is on the march. We’ve come through another global shock with the housing bubble intact. We’re cock-a-whoop!
Like the GFC, the performance is being put down not to hard work or sacrifice but dirt. Iron ore is apparently responsible:
