Australia's commodities-driven economy surged when China's economy was accelerating and importing commodities like crazy. And now it's getting slammed with China's economy decelerating. "Make no mistake - the Australian tide is going to be heading way out as China is about to have what our economist Wei Yao described as its' Minsky moment', or in layman's terms, its day of reckoning!" warned Societe Generale strategist Albert Edwards. "But even before China suffers this 'moment', final demand in the commodity dependent Western Australia (WA) has fallen into recession. Earlier today, we got confirmation that things ... (full story)