The "R" word is echoing around the US. The reverberations can be heard loud and clear around the world.
While it hasn't been called a recession officially, plenty of people are nervous... big business, small business and the regular guy on the street.
In Australia, the Aussie dollar is up against the greenback. That's great for Aussies heading to the US to travel.
It's not so good if you are paid in US dollars, or if you export goods to the US.
When the US economy starts to look shakier, the whole world pays attention and watches the trends both in the US and locally. Some analysts say that the US economy does not affect Australia's as much as it did 10 years ago, due in part to a buoyant mining industry.
Australia has a strong economy, but the doomsayers predict a falling property market due to rising interest rates.
- If you're not in the US, does the US economy shake up affect you?
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