All booms and busts come in different guises so trying to make direct comparisons is very dificult. In the 30's, banks went broke and depsoters lost everthing hence the mone found its way under the materess and hence governments around the world have stepped in to stop this.
70's drven by crazy oil prices and topped up with spiraling inflation, Fortunately that seems in check this time around.
87 cheap debt became expensive debt overnight and boom, all over very quickly.
this one looks more like the 30's because of it starting as a pure financial crisis but with the governments on the front foot, I dont think we'll see a full capitualtion. What we have seen is crazy volatility and this has scared the pants of everyone and for the volitility is what it will probably be rembered for, and of course the word of this century 'subprime'.
w000t wednesday, page-90
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Last
8,428.1 |
Change
127.900(1.54%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,300.2 | 8,446.4 | 8,300.2 |
| XJO (ASX) Chart |