I nicked this pic from Yarraville Paul, cute no? I mean, if it wasn't so accurate, that is.
I don't think we are immune to the global financial crunch by any stretch of the imagination, but at this point in time anyway it hasn't really hit that hard in Oz. (Mind you, I'm not a home owner dealing with interest rates.) Money bores me as a topic (just one indicator that I am in the entirely wrong profession), but there is certainly a whiff of fear and trepidation in the air.
Oh, but I have put a hold on buying more books from the U.K. at present. The exchange rate changes of the past week has made them less of a bargain just at present.
What will happen next is anyone's guess. I think the world financial systems are kind of like organic systems, in that you can sort of predict how they are going to pan out and try and affect the outcomes, but there will always be unexpected results.