Sigh.... Here's a related article and a graph , as you can see Australia is now ahead of the US in household debt to GDP ratio.Low interest rates have destroyed the Western economies , that much is pretty obvious.You cannot solve a debt crisis by creating more debt.
BORROWERS have set a new record: for the first time we owe more in household debt than the entire Australian economy earns in a year.
Reserve Bank figures show mortgage, credit card and personal loan debts now stand at $1.2 trillion, up 71 per cent from just five years ago and equating to $56,000 for every man, woman and child in the country.
Our spending binge, fuelled most recently by the Government's First Home Owner Grant, means personal debt now totals 100.4 per cent of Australia's annual GDP - one of the highest ratios in the developed world.
My comment about the environmental impact of living in the cities as opposed to the 'desert' was more based on the land clearing.You don't really clear bush in the middle of the Simpson desert.The more living in a city the worse the environment becomes , the more degraded the remaining bush becomes , the dirtier and more algae infested the rivers become.
Somehow moving to the desert doesn't seem like the solution, and intuitively I'd say it would be worse for the environment. Obviously there are environmental implications whenever you increase population but the fact it's in a city won't make a significant difference.
To be honest I think people get a little too focused on economy, GDP, etc. and don't really stop to think that if you're happy who cares what the price of houses in Shanghai is or whether you have a better GDP than someone in Romania. Quality of living is more important imo and though we probably could support more people I'd not sacrifice what identity and culture we have for the sake of a nice GDP lol.
The real problem is in the two big city of Melbourne and Sydney. Infrastructure is absolutely shit, having more people there just don't make any sense what so ever.
Other cities can easily support more people. Then there are central coastal towns and regional towns which should receive more funding and attractive policies so people would go live there and develop them.
I also find it strange that people think that having immigrants will some how dilute or replace Australian culture.
It's not like it's the first time Australia's receiving mass wave of immigrants. The Greeks, the non anglo Europeans, the Vietnamese, Chinese... In 2 or 3 generations, the immigrants would've integrated and society would've moved on.
On June 27 2010 16:12 iPlaY.NettleS wrote: Sigh.... Here's a related article and a graph , as you can see Australia is now ahead of the US in household debt to GDP ratio.Low interest rates have destroyed the Western economies , that much is pretty obvious.You cannot solve a debt crisis by creating more debt.
looooooooool. You don't even understand what that graph means mate. Stop posting.
On June 27 2010 13:02 iPlaY.NettleS wrote: Debt fueled growth is never a good thing. Look at this graph , maybe do some research on the great depression?
What's with the massive oversimplifications? Debt fuelled growth is bad cause of 'this graph' (lol) and the 'great depression' and high flat prices in shanghai. Excessive A caused B therefore A is ALWAYS bad. You really need to work on your logic, post less graphs (yes, debt is high, understood) and actually write something that shows you understand basic economics. I see you've heard of the great depression, impressive!
I don't know much about politics in australia, but if the labor party is what I think it is, she got my sympathies so far, simply because I think that conservative and free-market liberal parties mainly consist of jerks who don't even know what the term "empathy" means. Socialy oriented parties at least have a basis of people who can understand that.
"We're heading towards a double-dip recession," said Chris Whalen, a former Fed official and now head of Institutional Risk Analystics. "The party is over from fiscal support. These hard-money men are fighting the last war: they don't recognise that money velocity has slowed and we are going into deflation. The only default option left is to crank up the printing presses again."
"The US recovery is in imminent danger of stalling," said Stephen Lewis, from Monument Securities. "Growth could be negative again as soon as the fourth quarter. There is no easy way out since fiscal stimulus has already been pushed as far as it can credibly go without endangering US credit-worthiness."
On June 24 2010 13:44 LaSt)ChAnCe wrote: would hit it
User was warned for this post
Awsome.. i loved some of the reply's seeing as they where hilarious. neway its awsome how race/sex isnt really a "big" deal nemore in country's in the west.
On June 26 2010 08:42 hejakev wrote: Women leaders seem to keep cleaner, more peaceful countries. I think it's great.
Assumption! Add prove or examples here~~~
Finally we have a backstabbing PM in our country. Wait... We had Howard before, too. Sighz
Good job looking like a dick in a casual conversation.
Examples: Queen Elizabeth II of the UK (though she has little political influence), Halonen of Finland, Queen Margarethe of Denmark, Queen Beatrix of the Netherlands, and I think even the president of Argentina is a female. Have any of them show any aggression ever? I know there are tons of other female leaders out there, but name one of them who has ordered an attack on anything. It's a generalization, but it's true: The majority of female leaders are peaceful.
EPT![[image loading]](http://www.debtdeflation.com/blogs/wp-content/uploads/2009/12/image002.gif)
