Last Thursday, with SGD1 buying you AUD0.97, and not the usual AUD0.7-0.8, Jamie and I ran to the bank to transfer our 'hard earned' gratuities (contract) to Australia. Our (what currently seems as) good fortunes found in the unusually weak AUD are due to the current world economic crisis.
The following presentation and video, as spotted on PresentationZen, help with the explanation of what the crisis is all about:
The Time article, written by Stiglitz - author of one of the books, that I read for my Globalization class - is a good, easy read further explaining the crisis, how and why other countries - manly European's are linked - and what needs to be done in order to fix the mess. Also, Pat shared this post to help with the explanation.
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