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> Australian government bailed out the economy as a whole through economic stimulus in 2008 and prevented the spread of the GFC to here How was this bailout do

> Australian government bailed out the economy as a whole through economic stimulus in 2008 and prevented the spread of the GFC to here How was this bailout done? In the US, the bailout was done primarily by giving funds to over leveraged banks that had every right to collapse. CEOs took home record bonuses, and everyday citizen's lost their homes. They tried to spin the story in the US as saving the economy too, but most people didn't fall for the obvious wealthy get wealthier, poor get poorer trick. This actually birthed the Occupy Wall Street movement.

AussieWog93 5y ago
Not an expert, but from what I recall it was a mix of direct stimulus (I think every adult got $900 and were encouraged to spend it) and a huge amount of public sector construction. There was also strong Chinese demand for our resources. Our economy had one quarter of negative growth but we recovered almost immediately. The banks didn't get bailed out at all - they didn't need to be because the financial sector had strict regulations that prevented them from engaging in the systemic risk that ruined Europe and the US.