World News Desk
Learn the why behind the headlines.
Subscribe to the Real Truth for FREE news and analysis.
Subscribe NowAustralia’s Prime Minister Kevin Rudd admitted for the first time that his country will most likely be unable to withstand the current worldwide recession.
“The worst global economic recession in 75 years means it’s inevitable that Australia too will be dragged into recession.”
Mr. Rudd’s comments followed those by Australian Reserve Bank Governor Glenn Stevens, who said Australia’s financial situation depends on how well overseas economies can recover (ABC News).
Last month, the nation’s unemployment rate increased more than it has since 1991.
More on Related Topics:
- Zimbabwe’s New Currency Woes Hit Traditional Stores While Illegal Night Bazaars Flourish
- 10 Tips from Experts to Help You Change Your Relationship with Money in 2025
- Europe’s Economy Needs Help. Political Chaos in France and Germany Means It May Be Slower in Coming
- Buy Now, Pay Later Is More Popular Than Ever. It Can Cost More Than You Think
- When the Dollar Store Closes, U.S. Families on Food Benefits Lose a Lifeline
Latest News
-
February 11, 2025
- Explainer: Why President Trump’s Proposal on Gaza Is Ringing Alarm Bells in the Region
- Corruption Survey Gives Many Nations Their Worst Scores in Over a Decade February 7, 2025
- Mexican Border Cities Are in Limbo as Tariff Threats Spark Fears of a Recession
- The Swarm of Earthquakes Shaking Santorini Prompts Greece to Declare an Emergency
- Two Years On, Survivors of Turkish Earthquake Still Struggle with Loss and Hardship February 5, 2025
- For Millions of Children in Food Crises, a Heightened Risk of Lifelong Damage February 4, 2025
- Southeast Asia Looks to Nuclear Power to Supercharge Its Energy Transition
- Tariff Threats Take Aim at Fentanyl Trafficking. Here Is How the Drug Reaches the U.S. January 31, 2025
- 5 Years After Britain Left the EU, the Full Impact of Brexit Is Still Emerging January 30, 2025
- Collision Between Helicopter and Jetliner Kills 67 in Nation’s Worst Air Disaster in a Generation
- U.S. Children Fall Further Behind in Reading, Make Little Improvement in Math on National Exam January 29, 2025
- Huge Health Challenges Face Gaza Residents Returning to Their Homes
- What to Expect After South Korea’s Impeached President Was Indicted on Rebellion Charges January 28, 2025
- The Discovery of Brutal Mass Graves in Syria Reveals a Legacy of Horror
- What Is Happening in Eastern Congo, Where Rebels Claim They Captured a Key City? January 24, 2025
- Nearly 250 Million Children Missed School Last Year Because of Extreme Weather, UNICEF Says January 23, 2025
- Mexican Border States Prepare Migrant Shelters as President Trump Begins Deportation Campaign
- How the Israel-Hamas Ceasefire Deal Will Unfold—and Why It Is So Precarious
- A Rebel Group Is Advancing on Eastern Congo’s Largest City and Over 100,000 People Have Fled January 17, 2025
- Gaza Is in Ruins, and It Is Unclear How It Will Be Rebuilt
