Australia's Wine Woes

Slate's Mike Steinberger writes:

Depending on who's doing the counting, exports of Australian wines to the United States fell by 15 percent to 26 percent in value last year; whatever the precise figure, the arrows are all pointing sharply downward . . .

Foster's may be Australian for beer (mate); it appears that screwed is now Australian for wine.

There are several culprits, according to Steinberger. Currency exchange rates, droughts in Australia's wine country etc. But one of the sources deserving of blame, writes Stenberger, is the cheap wine Yellow Tail. Read more right here.