Recent comments by: In a neoliberal world
Given that Oz household debt is 20% of GDP higher now than at the time of the GFC and we have the highest household debt to household income in the world, we are set for a massive correction. In order to keep an economy growing we need a growing money supply, to do so we either borrow it from abroad or sell assets. Both have the effect of raising our dollar. Therefore for the jobs and growth mantra to continue, our business conditions will worsen. Once this correction starts, what will stop gov'ts who print their own money from buying up Aust? the FIRB register is too late, once they are sold.