| DonFerrari said: Brazil also got "unscathed" from 2008 crysis with lowered interest ratio and incetivized consumption... all that made we take the biggest recession ever after 6 years of that. So debt isn't a good solution. |
Brazil is an emerging economy... The financial crisis impacted emerging economies very differently, especially resource rich economies.
Also, Brazil entered into recession in 2009.
http://www.marketwatch.com/story/brazil-in-recession-but-recovery-likely-this-year
But then your economy jumped in growth the following year... Out of all the economies on Earth, Brazil's is certainly one of the more interesting cases in my opinion, I am interested to see where Brazil takes it's economy in the coming decades.
Not all debt is bad though, Australia took on debt, but nothing we couldn't afford... And a massive portion of that was invested into infrustucture which benefits absolutely everyone in the country, small business, big business, new business, consumers... Everyone. And that benefit lasts for years/decades.
We are still in a very enviable position in regards to debt to GDP as well.
Out of all the developed nations, Australia pretty much ended up unscathed, we learned allot during the Australian recession in the early 90's and made a ton of safegaurds to try and mitigate that in future... That meant during the Asian recession who were some of our main trading partners in the late 90's, the tech implosion in the early 2000's, the GFC in 2007, we have avoided it all.
www.youtube.com/@Pemalite
