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Financial Crisis...what crisis?

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.

3 comments:

  Dave Q

10:14 am

It hasn't really effected us much either Mark. The only thing was the rise in fuel prices in the lead up and the rise in grocery prices as a result. But they have gone down now.

Kevin Rudd is my new best friend too. I am looking forward to the $2000 too!

  Middo

5:56 pm

"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."

I don't know what 'young' constitutes but I consider 23 young...and all this 'crisis' is doing for me is enabling me to dream MORE for the very reasons you mentioned, lower house prices, lower fuel prices etc.

It seems to mostly be people with significant investments that are being hurt most.

  Mork

6:46 am

The self funded retirees are hurting ... the drop in repayments have been kind to me as well, BUT the rescue does not involve all nor is it equitable.

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