Yup, the banks and other credit providers are still kicking ass in good ol’ benighted Oz. That should put a few hundred thousand more people out of work. We may hope that one day Australians will come to see the connection between a bubble real estate market and economic collapse. That’s what this blog is all about.
However, most journalists and economists still seem to believe a “strong” real estate market and excessive household debt–a burgeoning FIRE sector you may say–is something to which Australia should aspire. [!]
Only if we wish to crucify ourselves further.
You can be sure that the onset of economic collapse will be signalled by both media and politics going into overdrive demonising refugees.