As a post script to the OAT Ultimate Australia trip, I would like to repeat and amplify an early tour comment made by Vince Haberfield: "When the United States sneezes, Australia catches pneumonia." It sure would seem this comment is being tested as a result of the current financial and mortgage home crisis in the United States. The impact of the US home mortgage crisis is certainly affecting the rest of the world. On our Australia and New Zealand trips, we were amazed at the homes for sale signs and the unexpected high prices of Australian real estate. Even with Australia's booming export market, the mortgage crisis is having a tremendous effect on international and world trade and financial markets.
I am wondering how much this condition will affect the booming coffee houses and boutique stores in Australia, as well as Aussie travel abroad. We are certainly living now in a global economy.
In that regard, the following is an interesting description of the Financial Crisis in America:
http://www.youtube.com/watch?v=1RZVw3no2A4
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