Re:Wall Street Banks Warn Downturn Is Coming
by gonzo41 on Wednesday August 23, 2017 @11:03AM
(#15082019)
We are going to notice it when people come to the realization that a 3 bedroom house isn't actually worth a million bucks.
Also one of the big reasons Australia skipped a few downturns is we got lucky having a ton of iron ore in the ground. In addition to this when the GFC hit the government just poured money at regular people, (trickle Up! Economics). I got $900 bucks for nothing, with a clear signal from the government that I was to spend that money keeping things ticking over. We got lucky.
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Re:Wall Street Banks Warn Downturn Is Coming
by eru on Thursday August 24, 2017 @05:05AM
(#15088621)
The iron ore made China pay Australia lots. But the iron ore wasn't preventing any downturn. Just the opposite: commonly countries that rely on commodity exports have crazy volatile economies, since global commodity prices are volatile.
Give your central bank some credit!
Re:Wall Street Banks Warn Downturn Is Coming
by googletazer on Wednesday August 23, 2017 @04:06PM
(#15084594)
Not lucky, you guys just played your cards right. Other nations squandered their chance.