Dr Gavin Putland’s 2012 update of the Kavanagh-Putland Index continues to show there’s a BIG crunch ahead, but the timing remains indeterminate.
The bust’s timing, of course, depends on how long governments can continue kicking the can down along the road; that is, artificially supporting the Australian bubble in land prices instead of adopting programs to address the damaging outcomes that must accompany its inevitable bursting.
Will we support the banks – or the people?
Despite all the evidence now showing austerity in favour of the banks overseas neither assists people nor economies–surely people and economies are the same thing anyway?–I’m betting an ALP or Liberal government will nevertheless consider people are less important than banks.
That’s in the DNA of crooked governments.