This video from Australia does a pretty good job explaining the subprime mortgage crisis, its effect on the global economy, and how we got here in the first place. While discussing serious issues, the "comic duo you can bank on" are funny to watch — see for yourself.
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Republic
Ichi
Buti
Glad I live in Pittsburgh because we seem to have missed the whole housing bubble and mortgage crisis. And the economy isn't slowing down here also.
1I'm in Australia and our housing prices are still rising, although slower than in recent years (like that's hard). I do think they'll slow right down and possibly fall within the next couple of years though.
Although we're in for a few changes, the Aus economy is still going strong, largely thanks to China's huge ongoing demand for our natural resources.
I have no problem with interest rate rises - we've been so stupid as to get into tremendous amounts of consumer debt, taking on mortgages we can't service in tougher times, what do people expect??
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