YOUR SAY 
Are you worried about the 'global financial crisis'? Recent turmoil in the US finance sector has sent ripples around the world with global markets thrown into turmoil. How will this affect you?
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Should the government go into deficit to contain the impact of the global financial crisis?
"I think we should ask ourselves "Where exactly is all this bailout money coming from anyway?" "I..."
Should the government go into deficit to contain the impact of the global financial crisis?
"Troy - that's a top idea, but it looks like Rudd is more interested in broadening an already esta..."
Should the government go into deficit to contain the impact of the global financial crisis?
"It is true that the present economic crisis represents right wing capitalism, out of control. But..."
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TO: RYAN FROM SA ADELAIDE. I totally disagree with your analysis of the world financial crisis and your accusation that steps taken by RUDD to fend off economic collapse in Australia, will cause deeper problems. The present crisis represents the end of 30 years of influence from Margaret Thatcher and Ronald Reagan, economic bananas who obviously had no understanding of the dangerous long term effects of right wing capitalism. The simple fact is that both John Howard and Kevin Rudd have no responsibility for any of the problems presently being experienced through the Australian economy, in particular the housing market. Now its time for a generation of NEW AGE AUSTRALIANS to face the music, for 15 years of misconduct. How insulting it is to hear the GREED TEAM belt out arguments that they have been set up and that nobody told them of the risks involved in buying 2 or even 4 investment properties, or screams from the millions of investment novices who jumped into the stock market and basically played a game of stakes, rather than going to school first and learning how to be a responsible investor. I remember several childhood friends laughing at me because, in their words, I didn’t have the guts to buy a second house, and because I was not savvy enough to invest in stocks. How strange none of these individuals have called on me since the crisis started, as all of them are now living in negative equity and some are basically bankrupt due to excessive investment into poisonous derivatives. With regard to China, well the Chinese are a tribe of gamblers, and well, they’ve basically bet on the wrong strategy, by keeping all their hard earned tax money (US$1.8 trillion - earned through joint venture manufactures who export) in the bank (That is of course - The Communist Party Bank Account), with almost no spending on the needs of the people. So I have no sympathy for a government who uses 99% of its people as slaves, and refused to innovate (by empowering the people) to reduce the impact of exports on GDP (60% of the Chinese GDP comes from exports). Let me finish by just pointing out that this economic crisis was inevitable, and it is also inevitable that Australian housing prices will have to come down by at least 50% over the next 2 to 5 years, if Australia is to survive a depression. It’s just common sense. The sooner we allow people in negative equity to go bankrupt, the sooner the world well emerge from the present crisis. The fact is that low housing values decreases the amount of monthly income spent on a family mortgage, with the result being greater disposable income to spend in the shops, and of course the ability to put 15% of income into a savings account (NOW THIS IS A REAL INVESTMENT VEHICLE). Lets stop blaming the politicians and look inside. The truth is that the Australian people embraced the GREED of RIGHT WING CAPITALISM, with open arms, and now it’s time to pay the price.
I SURE AM. Wakey-Wakey, hands off snakies... people. Its CRUNCH TIME for this sad old world. We the people have tried all the ISM's. IMPERIALISM-COMMUNISM-SOCIALISM-CAPITALISM-THATCHERISM-REGANISM-BUSHISM, ETC ETC and where has it got us. HERE, with just 10% of the world's people possessing 85% of household wealth against half the people owning barely 1% (see James Davies, Susanna Sandstrom, Anthony Shorrocks
rudd's increase in grant will force australian's property market to a quicker hike in its peaked price and may even forced unafordability and thus plus recession globally, result in china's slower growth, may in turn cause australian;s property market to crash even quicker
i think it is a joke that the money hungry people of the world can be bailed out by government when a poor old struggling buisness or people are left in the dark to fend for themselves i guess this is where the world is heading when the rich scratch each others backs
Imagine the future. By 2012 after 4 years of failed government intervention to halt the mess created by the financial crisis, what solutions will be left. The present turnaround from extreme capitalism to socialism is just a joke. How can anyone condone any government acting to save the rich class just so that the comfort experienced through the 1990s can be maintained with no change to the ladder of affluence and influence. Let me make a prediction. Today’s pain is nothing compared to the war that will arrive after 4 years of failed economic medicine, medicine delivered by politicians who present themselves as an example of the post WW2 Labour movement. The situation is just pathetic.
I can't believe that the people of the world let this happen. The official cause for this mess is Plutocracy. Where the wealthy class decide all government decisions. Money has blinded those at the top into leaving the struggler behind. What goes around comes around, and until justice is served, this problem will continue to repeat itself. Why should 80% of the American people who work 3 jobs and then default on a house mortgage tolerate this Plutocracy? They have never been educated enough to consider Revolt as a valid option for this mess. Its the only way. Pick your time, now or 50 years. it will happen!
From the ashes of the first great depression rose a great leader (Franklin Roosevelt) and a tyrant(Aldof Hitler). Who will rise from this second great depression.
huh....why should we suffer if Stupid Yank are in crisis? what made them think that they are the number one in the world? tell me why their market control the world?
The terrifying thing is, there's still worse to come...The United States Debt is about to reach 10 Trillion US Dollars(and yes that's with a 'T'), infact the US national debt clock had to be replaced as it could no longer fit all the digits. I wonder what happens when the largest economy in the world goes bankrupt?
The banks are greedy beyond belief. If they are willing to take your money and make money out of it and give you pittance back in interest for the privilege of using YOUR MONEY then there should be a scheme to cover their losses. You put your money in a bank in good faith. They should make a profit with it but not the greedy profits they have over the last 10 years or so. They should leave some in surplus to cover any losses to the working public.