Quote Originally Posted by Fragony View Post
I hear about europe and america, why am I not hearing anything from Australia and Canada? Just not affected?
We have been affected. Just we had the economic brakes on for awhile now because of the huge mining boom... a kind of economic counter balance in the form of raised interest rates.

Consumer confidence is down.
The stock market is down.
Dollar is spiraling down compared with the US dollar.
Housing market is down.
Job market is ok.
ALL our major banks are making record profits and the interest rate is deregulated. Sure our Reserve Bank can set the rate, but the banks are free to ignore it. Only thing that spurs them to raise or lower is competition.

I'm sure someone with a better understanding of the Aussie economy can give a better synopsis.