What have we learned from the GFC?

WA Businesses Most Confident

Businesses in Western Australia are the most confident in the country, with the state registering a lead of more than 10 index points according to the latest National Australia Bank survey. Full Article

Comment: "What GFC?" is the current mood of businesses in Western Australia.

While it's not the case throughout the rest of the world (yet), Australia and particularly Western Australia have rebounded strongly this year already with plenty of signs of even more to come.

Contrary to just 3-6 months ago, everyone is now talking about the next resources boom, trying to find enough staff and looking to expand.

We shudder to think what could have happened if China hadn't been there to save the resource-rich countries like Australia and provide finance to other developed countries!

3 Things I Hope we've Learned:

- It's actually important for people borrowing money to have adequate income and a deposit.
- Don't buy financial products unless you understand them.
- Nothing is as bad (or as good) as the media makes out.


What do you think are the key learnings for the world from the GFC?