The world stock market is again tumbling due effected by the European economic crisis. Economic shock waves is again felt all over the world. Stock markets are in their lowest standing for over a year now.
Many fears that there might be a double dip recession - it is the second bite of the GFC. Economist however are not much worried. Their proof, jobs are still on the rise despite the volatility of the economies.
No matter what authorities say, the ordinary people like me is feeling the pinch again. The lower forex rate of the AUD from more thant USD0.90 to USD0.80 make so much diffirence as I send back remittance to the Philippines every month.
Big projects are now on hold. If after the current projects are finished, will a double dip recession eminent? Will unemployment be again on the rise?