Are you worried about the 'global financial crisis'?

25 Sep 2008, 12:00 am   -   Source: SBS
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Australia is one of the least corrupt nations in the world, a report by Transparency International says (AAP)

Australia is one of the least corrupt nations in the world, a report by Transparency International says (AAP)

Recent turmoil in the US finance sector has sent ripples around the world with global markets thrown into turmoil. How will this affect you?

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Master

Geoff - from Townsville, 3 years ago

It is certainly not just the US that have very greedy people in positions of power. Check out our small sompanies like, dare I say, PANAUST. The MD being voted $1M when the company is not paying creditors and the CFO was sacked for telling creditors to "ring the MD if you want your money". Also, where the MD was telling the ASX that all creditors had been paid, maybe an untruth.......A link? I was sacked for being outspoken about what I considered immoral corporate bahaviour. Chec k this out.

THE PINK POODLE, 4 years ago

TO: RYAN FROM SA ADELAIDE. I totally disagree with your analysis of the world financial crisis and your accusation that steps taken by RUDD to fend off economic collapse in Australia, will cause deeper problems. The present crisis represents the end of 30 years of influence from Margaret Thatcher and Ronald Reagan, economic bananas who obviously had no understanding of the dangerous long term effects of right wing capitalism. The simple fact is that both John Howard and Kevin Rudd have no responsibility for any of the problems presently being experienced through the Australian economy, in particular the housing market. Now its time for a generation of NEW AGE AUSTRALIANS to face the music, for 15 years of misconduct. How insulting it is to hear the GREED TEAM belt out arguments that they have been set up and that nobody told them of the risks involved in buying 2 or even 4 investment properties, or screams from the millions of investment novices who jumped into the stock market and basically played a game of stakes, rather than going to school first and learning how to be a responsible investor. I remember several childhood friends laughing at me because, in their words, I didn’t have the guts to buy a second house, and because I was not savvy enough to invest in stocks. How strange none of these individuals have called on me since the crisis started, as all of them are now living in negative equity and some are basically bankrupt due to excessive investment into poisonous derivatives.

Showerbucket, 4 years ago

I SURE AM. Wakey-Wakey, hands off snakies... people. Its CRUNCH TIME for this sad old world. We the people have tried all the ISM's. IMPERIALISM-COMMUNISM-SOCIALISM-CAPITALISM-THATCHERISM-REGANISM-BUSHISM, ETC ETC and where has it got us. HERE, with just 10% of the world's people possessing 85% of household wealth against half the people owning barely 1% (see James Davies, Susanna Sandstrom, Anthony Shorrocks

Ryan, 4 years ago

rudd's increase in grant will force australian's property market to a quicker hike in its peaked price and may even forced unafordability and thus plus recession globally, result in china's slower growth, may in turn cause australian;s property market to crash even quicker

john, 4 years ago

i think it is a joke that the money hungry people of the world can be bailed out by government when a poor old struggling buisness or people are left in the dark to fend for themselves i guess this is where the world is heading when the rich scratch each others backs

THE PINK POODLE, 4 years ago

Imagine the future. By 2012 after 4 years of failed government intervention to halt the mess created by the financial crisis, what solutions will be left. The present turnaround from extreme capitalism to socialism is just a joke. How can anyone condone any government acting to save the rich class just so that the comfort experienced through the 1990s can be maintained with no change to the ladder of affluence and influence. Let me make a prediction. Today’s pain is nothing compared to the war that will arrive after 4 years of failed economic medicine, medicine delivered by politicians who present themselves as an example of the post WW2 Labour movement. The situation is just pathetic.

Plutocracy, 4 years ago

I can't believe that the people of the world let this happen. The official cause for this mess is Plutocracy. Where the wealthy class decide all government decisions. Money has blinded those at the top into leaving the struggler behind. What goes around comes around, and until justice is served, this problem will continue to repeat itself. Why should 80% of the American people who work 3 jobs and then default on a house mortgage tolerate this Plutocracy? They have never been educated enough to consider Revolt as a valid option for this mess. Its the only way. Pick your time, now or 50 years. it will happen!

Darren, 4 years ago

From the ashes of the first great depression rose a great leader (Franklin Roosevelt) and a tyrant(Aldof Hitler). Who will rise from this second great depression.

Che Guevara, 4 years ago

huh....why should we suffer if Stupid Yank are in crisis? what made them think that they are the number one in the world? tell me why their market control the world?

Shiva, 4 years ago

The terrifying thing is, there's still worse to come...The United States Debt is about to reach 10 Trillion US Dollars(and yes that's with a 'T'), infact the US national debt clock had to be replaced as it could no longer fit all the digits. I wonder what happens when the largest economy in the world goes bankrupt?

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