Jan

12

With markets, so is life, with life, so are markets.

Brisbane Australia's third largest city on standby for flooding with dams about to break at close to 200% capacity "after a dramatic reversal of dry conditions":

Recent heavy rainfall across eastern Australia has caused a dramatic reversal of dry conditions across Queensland, New South Wales and parts of Victoria and South Australia. Significantly, the Murray Darling Basin has recorded its wettest year on record, ending a sequence of below average rainfall years extending back to 2001. Spring rainfall during 2010 across much of the east was also the highest on record and December was also very wet.

With the dead and missing in its wake, the worst flood in 100 years is building towards Brisbane as Australia's third-biggest city holds its breath and hopes a dam 80 kilometres to its west can keep back enough water to avoid a disaster of biblical proportion.

Read more here. 


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