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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
by 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.