Old Project Avalon Forum (ARCHIVE) - View Single Post - NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD

Ross H · 03-18-2010, 04:35 AM

Thanks Susan,

Australia is also the same, no bank failures or mortgage bailouts.

Last year the OZ govt pumped $40 billion of cash surplus in the form of cash handouts to the citizens in two, 'one off payments' this was intended to keep the retail sector boyant which has to date been successful.

OZ also has a excellent resource sector, mining, huge uranium, iron ore, gold and other minerals and has been able to keep secure trade with China and India through the tough times. The housing sector has risen by 3.5% across the board and with grants for first home owners buliding from new have received $14,000, and existing homes of $7000.00.

Also the unemployment figures are below 5% and interest rates have already moved back to 6.5% which has stimulated foreign investment and is a healthy medium for inflation.

Oz govt also was the first to implement bank deposit guarantees which stopped cash withdrawls and cash leaving the country.

Canada and Australia are good examples for most of the world to use as a model for fiscal stability...tho we all know its a manipulated system....and a crock really, but I am very happy to live here...

Peace.

03-18-2010, 04:35 AM	#16
Ross H Project Avalon Moderator Join Date: May 2009 Location: Queensland Australia Posts: 507	Re: NOT one bank failure in canada--BANKING SYSTEM HEALTHIEST IN THE WORLD Thanks Susan, Australia is also the same, no bank failures or mortgage bailouts. Last year the OZ govt pumped $40 billion of cash surplus in the form of cash handouts to the citizens in two, 'one off payments' this was intended to keep the retail sector boyant which has to date been successful. OZ also has a excellent resource sector, mining, huge uranium, iron ore, gold and other minerals and has been able to keep secure trade with China and India through the tough times. The housing sector has risen by 3.5% across the board and with grants for first home owners buliding from new have received $14,000, and existing homes of $7000.00. Also the unemployment figures are below 5% and interest rates have already moved back to 6.5% which has stimulated foreign investment and is a healthy medium for inflation. Oz govt also was the first to implement bank deposit guarantees which stopped cash withdrawls and cash leaving the country. Canada and Australia are good examples for most of the world to use as a model for fiscal stability...tho we all know its a manipulated system....and a crock really, but I am very happy to live here... Peace. __________________ Ross H, formerly known as jross.