Well it has been a month since my last posting.
The big fear now is that Greece will still default on its loan repayments. Great Britain is reluctant to help Greece but will. The German Chancellor wants to help, but the German people don't. How much money will it take to save the faulting economies of Italy, Greece and Spain?
And the United States is not good either. High unemployment, still buying more off China than making themselves. USA may be a powerhouse but it is running out of steam (energy).
When the crisis hits, how bad will it be?
Australia sits well away from Europe and the United States, and while its economy is dependent on China, in terms of buying its resources, what will happen if the GFC hits?
Could it be another great depression with suicides and unhappy people?
Time will tell, and no one knows whose side time is on?
Monday, October 10, 2011
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