I realise this post comes from a position of a fair amount of ignorance….so forgive me in advance but….
Since the crisis has kicked in our family…
1. has had its monthly mortgage greatly reduced, meaning we have maintained the level of repayment, but are seriously eating into the principle, with the promise of further cuts to come
2. Our petrol bill has been reduced by a third, I got petrol today for 1.08, when last month I was paying up to $1.55
3. We are receiving $2000 from our new best friend, Kevin Rudd, which will pay for our holiday next July
What concerns me
Every government in the world is instituting massive public works projects, including China. This is not good for our long term environmental goals
Seniors who are dependent upon their Super are suddenly discovering their net worth is halved or worse….
Young people who have been full of optimism and courage about their future, and thus were willing to dream, may now have to reassess their life goals.