Showing 2 Results for: “2008�

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2020: A repeat of 2008?




With huge economic strain given the impact of pandemic, it's time we question the leaders, the economists on whether it's a repeat of the history of the great recession of 2008?




A decade after the Great Recession of 2008, the global economy indicates the resurgence of economic complacency and unpredictability of markets as we dwell within close proximity of yet another global economic crisis.




 

Now: Main Street has collapsed






The current recession is not caused by a broken link within the system, but from an external threat, a worldwide pandemic. In order to keep the disease from spre... Read More

#economy #India #recession #2008 #Covid19 

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Josh Frydenberg, the first treasurer in around three decade to preside over a recession remarked that a recession was an inevitable reality after national accounts show the gross domestic product falling by 0.3% in the March quarter. A report was released by the Australian Bureau of Statistics. The nation had a successful growth which was hampered by the recent coronavirus crisis and the impact of wildfires that Australia has been facing. Over the past twelve months the growth rate was only 1.4% , the weakest performance since the global financial crisis.



While Frydenberg said the contraction in Australia was less severe than many other countries battling the economic shock associated with the coronavirus pandemic, he warned people to brace for “difficult days ahead” because the June quarter results would be worse than the impact felt in March. According to Frydenberg “an economist’s version of ... Read More

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