Australia's January trade deficit reaches $2.7 billion

I should really leave the economic commentary to the serious press, but I couldn't resist, plus I figured I had done my bit for the nation by purchasing a six pack of Australian wine, instead of some pricey imported French plonk. . .

It's hardly surprising Australia has been in trade deficit for the last 70 months. We export commodities. Iron ore, grain, wool and the like, and in return we buy plasma screen TVs, BMWs, Burgundy and Champagne. As commodity prices rise, so too does the Aussie dollar, flattening out any potential export gains, whilst at the same time increasing the amount of foreign goods we can buy. In concert with this is almost total absence of manufacturing within the country. Other than food and wine, I can't recall anything else I've bought recently that was not foreign. . .

Penfolds Bin 28 Shiraz 2005. 14.5%. South Australia (McLaren Vale dominant). Screwcap. Approx $A24. Tasted in-store. Perhaps it was the crappy tasting glasses, but I thought there was very little on the nose, certainly it seemed much more subdued than the 04 and 03 (and the 06 Bin 128). Spice, and licorice, unresolved and a little too stern and angular at this stage. (Could it be that drinking wine after a visit to the beach is not a good idea). The tannins are a little sappy, inky and bristling. Given the track record, there is of course every reason to expect this will improve and integrate. I certainly didn't hesitate in buying a bottle for a more detailed assessment. 90. 2010 - 2020+

technorati tags: wine, australian wine