Economic Crisis (1 Viewer)

[icecoffee]

Can someone please briefly explain to me what exactly is happening with the Australian economy in regards to financial crisis? How did it come about? What are the significant implications? ...
Cheers.

 

[Silver Persian]

Can someone please briefly explain to me what exactly is happening with the Australian economy in regards to financial crisis? How did it come about? What are the significant implications? ...
Cheers.

The Australian economy shrunk by 0.5% in the last quarter of 2008.

 

[JonathanM]

My official financial forecast P) : (I am also preparing to be shot down by the very financially savvy people out there haha)

The economy will continue to shrink for the rest of 2009, we'll then stabilize, realise how long its going to take to pay off the debt we're in, curse, then start the climb again.

Other possibilities are there's a quick upturn in the third quarter or we just keep going doooooown for another 2/3 years = depression.

 

[withoutaface]

US Government incentivised lenders to lend to people who shouldn't be borrowing money because they couldn't afford the repayments. Shitloads of those people defaulted, banks became insolvent and everything went to shit.

 

[Omium]

Greedy jewish bankers conspired to crash the world's financial system to increase the value of their jew gold.

fuck, i overheard them talking about it last year in my local synagogue.