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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
by gonzo41 9y ago
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.
- googletazer 9y agoNot lucky, you guys just played your cards right. Other nations squandered their chance.
- eru 9y agoThe 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!