I am actually quite optimistic about the Australian situation.
Being based on a commodity economy, the OZ economy will improve as prices of raw materials improve, which I am expecting in 2009.
Plus, the Oz government, though beset with faults and ills, is relatively better than the US or UK governments - and light years ahead of the Canucks ( arguably the most inefficient and stupid government in the free world ).
I wish that I could move my savings accounts there, but unfortunately.....What will happen in 2009 in Australia concerning the 'Financial Crisis?' When will it end? ?
Not a Depression altho it will feel like one. We are much richer than we were in the 1930's. It will end in 2012..What will happen in 2009 in Australia concerning the 'Financial Crisis?' When will it end? ?
I think in 2009 the situation will be more worsted however from next 5 to 10 years it will improve gradually . We should optimestic for future.
Things will get better in Australia about the same time as they improve for the U.S. and Europe. With globalization most economies of the industrialized world are intertwined so what happens with the larger industrialized countries will also happen with the smaller economies. I would not expect much, if any, improvement through much of 2009.
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