This doesn't mean that you can't educate yourself and be aware of the economic climate and conditions and what will happen in the future. A lot of money can be saved if you are aware of potential economic downturns and prepare.
From all of the research I have done from media stories in Australia and around the world (online newspapers are a great source) and youtube.com clips/ lectures I have formed the opinion that the global financial crisis is far from over.
Point to start researching:
- What happens when Australian and global stimulus money runs out (there is only so much money govts can borrow to spend).
- Potential slowdown in Australia due to Chinas growth (and demand for our resources) slowing.
- The huge and unsustainable debt levels in America (and some countries in Europe) and their continued spending.
- The large personal debt levels in Australia increasing and our inflated property markets.
Here are some great website to start:
- There is a lot of information (and misinformation) on www.youtube. This link is a speech given by David Walker, former comptroller general of the USA, warning about future problems due to their current debt levels/spending: http://www.youtube.com/watch?v=KjZBOCAgR64
- Informative Australian Blog: http://www.whocrashedtheeconomy.com/
- Informative Australian Forum: http://www.aussiestockforums.com/
- Funny personal finance blog: http://www.punchdebtintheface.com/
