Is Australia heading into a Recession?

[MilkOnTap]

Living Expenses have increased almost 50% in the last 2-3 years. I have noticed a massive difference in my grocery bill at the end of each fortnight - and sadly, so is our credit card.

Do you think Australia is heading into a recession? Do you think there is anything we can do to avoid it?

[DivinelySophistimicated]

Yes we can help resolve it...stop spending money that is not yours!!! The more people put on their credit cards or get on interest free take home today things, then the higher everything is going to go up!!! The banks are running out of money, so we should only spend what is in our pockets!

[Ana Gram]

I think so. We are heading for some troubled times financially.

[~Emmylou~]

I think everyone needs to stop spending money on cr@p.

Unfortunately yes we probably will end up in recession...and the ALP will cop the blame for it....again....

Nevermind the fact that everyone has spent the 12 years before they got in spending money like there's no tomorrow and like they never have to pay it back....

Ok, end whinge

[andie_pandie]

OMG I hope not, every day I am looking at the financial situation of this country through market information that I receive.

I think there is so much good and bad speculation that it is hard to know what is going to happen. The US has cut there interest rates back to around 2.25% trying to hold back a recession.

There are so many factors that are contributing to the crisis around the world. Yes here in Australia one big factor is spending, we have to stop it and stop wanting the best of everything. Bad Debt such as credit cards and personal loans are causing this country a lot of problems however sometimes there is no option for someone to get these.

We just need to hang in there and hope that this does not last to long, this has happened before and we have to remember we have seen a good few years particularly for those whom have had homes that have increased dramatically over the last few years. There will always be swings and roundabouts, it is just unfortuately we are not in a good place at the moment.