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Discuss the sub-prime crisis in US and its effect on the world economy??

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Discuss the sub-prime crisis in US and its effect on the world economy??

Postby rendall » Fri May 10, 2013 9:29 pm

yes.. the mortgage lenders who reselling their customers mortgages on US bond markets were also selling across all major international bond markets.

The Australian sharemarket (asx) took a hit today, for among other things, as it was revealed supperannuation funds had been buying these bonds backed by sub-prime mortgages....

Also, the US economy and its consumer market sucks up much of the world's exports. As the sub-prime crisis expands and swings into a full recession with all the reduced spending that goes along with it, international growth will slow as the US imports less.
rendall
 
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