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Read Westpacs comments today: asset quality in the bank's corporate and commercial portfolio continued to deteriorate in line with the weakening of economic activity. Look what happened to Suncorp that was not aggresive enough on its risk policies over commercial and property lending...

Interesting article from cnbc: Why This Recession Seems Worse Than '70s and '80s Topics:Economy (U.S.) | Alternative Energy | Environment | Weather | Mortgages | Credit | Subprime Lending | Housing | Real Estate Sectors:Utilities | Construction and MaterialsBy: Albert Bozzo, Senior Features...

And whats the effect on the Nikkei today: down just 0.21%, doesnt sound like a shocker to me given the current prices.

I suggest members read the following topic in Somersoft: http://www.somersoft.com/forums/showthread.php?t=48554 Was the last boom a fluke, or something like that. Now we look back on those times and think to ourselves, cheeze these guys were lucky to be acquiring property when they did, they...

In the US consumer expediture as a % of GDP was unsustainable at 70%. When i was at Uni back in the early 90's it was 60% and even this was considered 'large'. The credit boom and property boom were the catalysts that enabled consumer expenditure to expand to 70%. We are now witnessing the...

could it be because US and Japan has different characteristics. Japan is a nation of savers: you reduce interest rates and the consumers get worried because their rate of savings declines (or return on savings if you like) and so they go into a hole. Whats the level of private national savings...

The truth of the answer is we wont know until this period has passed and the accademics have time to study it. Even if there are similarities, there is also the issue of degree of similarity, both in terms of severity and in terms of its application in a global world.