this post was submitted on 03 Jul 2023
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From memory we avoided the '08. We were one of the few countries that didn't have an official one.
The R word will create a drop in the share market, which will (most likely) result in job losses and similar.
Somehow our economy is still be propped up right now (construction and exports maybe?)
Ahh okay. I mean makes sense, didn't KRudd give out money TO avoid a recession? I remember mum giving me $50 and at the time I think I bought a DVD or music from Sanity. Those were the days.
I think exports are our biggest money maker. Wouldn't be surprised if construction is too.
A lot of construction is gov funded, and that's going to end at some point (or take a long pause). There's been a heap of investment into infrastructure, which is fantastic, but needs to be paid off eventually.
Residential construction is still going, but with house prices still being high and rates being high, that might dip as well.