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Australia hasn't had a recession in nearly 30 years, an impressive track record for an industrialized county. But the fires threaten two pillars of the country's economy.
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Australia's volatile fire season saw "one of the worst days on record" this weekend, as record-breaking temperatures and low humidity exacerbated conditions.
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Residents in the greater Sydney area have been warned of "catastrophic fire danger," the country's highest danger rating. At least three people have died in the fires in the state of New South Wales.
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Witnesses describe a white SUV smashing into pedestrians at high speed at an intersection in downtown Melbourne. Police say the driver has a history of drug use and mental health problems.
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A lot of the grass-fed beef sold in the U.S. now comes from Australia because it's cheaper and available year-round. But U.S. producers say they still have an advantage over the imported meat: a homegrown story.