5 ms·
Australia did one and it worked wonderfully. We rode out most of the brunt of the impact of the 2008 'GFC' with little disaster. The worst of it for most of us
by techdragon 12y ago
Australia did one and it worked wonderfully. We rode out most of the brunt of the impact of the 2008 'GFC' with little disaster. The worst of it for most of us was that getting a home loan got a bit tougher, but really this was more a case of returning to earlier norms than really getting "harder"
- zeyus 12y agoAustralia has just delayed it, we are still letting people borrow more money than they can ever hope to repay (interest only loans on owner occupied places) now with our relationship with China growing tenuous (they're making deals with the USA and Russia instead of Australia), it spells bad news.
- adventured 12y agoTo what extent does Australia's tie to the Chinese economy deserve primary credit for Australia weathering the GFC?
- cylinder 12y agoAustralia did it by increasing immigration which is only a temporary solution. GDP per capita fell in the GFC.