By Mark Bahnisch on November 20, 2008
The stock market has lost 51% of its value since its peak, a decline we’re told now exceeds the destruction of value seen in 1987. On the ABC News tonight, Alan Kohler grimly pointed to an index (tradeable, I think, [...]
Posted in Disasters, Economics, Markets, Sociology, USA | Tagged Alan Kohler, ALP, ASX, bear market, black monday, consumers, consumption, credit card, Crikey, debt, deflation, economic policy, equities, Glenn Stevens, global financial crisis, inflation, Kevin Rudd, Keynes, recession, reserve bank, Rudd government, stock market, unemployment, wages, Wayne Swan, working hours |
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