Australian recession
 

What happens when you borrow money? One day you have to pay it back!

What happens when lots of people borrow money at the same time?


http://news.ninemsn.com.au/article.aspx?id=23961

http://www.thecouriermail.news.com.a...5E3122,00.html

http://afr.com/articles/2004/12/03/1101923320265.html


AUSTRALIA could be heading towards a similar downturn to the Great Depression

Hmmm what will happen to the price of real estate then? (you know when you lose your job, interest rates increase)

Could be avoided with stern economic policy, but the current govt has ridden the wave and has IMHO - NO ECONOMIC CREDIBILITY.

Re: Australian recession
 

old and bailey

Re: Australian recession
 

Are you that Kong guy then? :D
If not, have you tasted a cold beer lately?Chill man....
Where on earth are you going to find Utopia apart from Utopia itself?

Re: Australian recession
 

Economies with floating exchange rates are being clobbered:

http://www.statistics.gov.uk/images/charts/199.gif

UK trade deficit : £3.8 billion in October (~ $A 10 billion).
AU trade deficit: $A 2.24 billion in October.

http://www.news.com.au/common/imaged...,402318,00.jpg

http://www.deh.gov.au/industry/indus...ages/ch2p3.gif

Re: Australian recession
 

The problem is deciding which "experts" to listen to. Some say one thing some say another.

I was listening to one today, who was saying that property prices may stand still for 12-24 months before rising again after that period.

Some experts even say that the current government has a lot of Economic Credibility. But I suppose Kong had much more experience and would know better :)

Re: Australian recession
 

your points proved by this article:
http://news.ninemsn.com.au/article.aspx?id=4052
released about 2hrs after the first one on eatstaic's post in short it says the economy is going to continue to grow strongly through the first half of 2005...