why are we in a recession

The correct answer is we are in a recession from lack of spending. lack of spending because people are carrying histric record debt levels, and when interest rates climbed on these debts learning up to 2007 it squeezed all the spending money out of peoples weekly income.

which is the obviously the answer as to why the RBA is madly lowering interest rates to decrease the effects of the recession.


Now I would love to know, in a property bull's mind. if the debt created from record level property prices didnt make people take out record level of debt and squeeze all the money out of the economy..

then what caused this recesiion?

This will be a fasinating thread i think!