09-02-2018, 05:31 AM
I am in full agreement with Neil Howe and I can provide an antipodean perspective (Australia and New Zealand). We here avoided the first Global Financial Crisis which hit North America and Europe very hard. The downside of that is that the housing bubble which was already pretty big when the GFC hit, inflated even more since then.
Overall Australia and New Zealand are about as bad as California was before the last Global Financial Crisis, when it comes to the housing bubble. Australia I believe because of reasons I have stated on another thread is going to face an economic depression on the scale of Greece's once the housing bubble collapses. This economic depression will be considered by future historians to be worse than the Great Depression was. The prospect of this happening is soon is about as scary as dying for me.
Overall Australia and New Zealand are about as bad as California was before the last Global Financial Crisis, when it comes to the housing bubble. Australia I believe because of reasons I have stated on another thread is going to face an economic depression on the scale of Greece's once the housing bubble collapses. This economic depression will be considered by future historians to be worse than the Great Depression was. The prospect of this happening is soon is about as scary as dying for me.