The Atlantic

Why Hasn’t Australia Had a Recession in Almost 30 Years?

The U.S. should take a page from the island nation.
Source: William West / AFP / Getty

Updated at 12:05 p.m. ET on December 21, 2018.

It’s beginning to feel a lot like 2007. Or 2000. Or 1990. Or 1981.

Stock prices are limping along, housing sales have , and banks are pulling back from . The sugar rush from President Donald Trump’s extraordinary round of fiscal stimulus is about to wear off, as the Federal Reserve continues to tap up interest rates. At the same time, global growth is slowing thanks to the trade war, Brexit, and problems in a number of emerging-market . Two-thirds of expect the next recession to occur by 2021, with half of corporate chief that a downturn will begin next year.

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