2min chapter

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Housing Bubble Week: Getting Things Done In Western Sydney - John Hempton

The Joe Walker Podcast

CHAPTER

The Garden Variety Recession

If 25% are bad, the banks will survive. But then dividends will go and there'll be a recession. I suspect that it will be a garden variety recession with a bunch of very sore losers. Almost every other housing bust except the US and Ireland has looked like that. The Australian dollar can move down a long way. You don't want to own anything that suffers from a weak Australian dollar. It'd be a weird macroeconomic outcome.

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