to be honest, the GFC never actually hit Australia.what hit us...

to be honest, the GFC never actually hit Australia.

what hit us was interest rates on home loans returning back to long term averages.

due to everone borrowing excessive amounts of money compared to normal this withdrew all the money normally floating around in the australian economy out and straight to the banks in interest.

what stopped this happening was emergancy interest rates, and Mr Rudd's stimulas packages. sucking more FHB into the debt bubble.

whats happening now is interest rates are being unwound from the tempory low.

and we will be back to where we were. Then with the damage that follows from there we will join in on the GFC !