Howard's property Ponzi-scheme is about to
catastrophically bottom-out. A quick slide into a
recession followed by years of agonizing recovery.
Credit card debt, HECs debt, household debt, and
foreign debt have all more than doubled in the
years Peter Costello has been Treasurer. Hard
working Australian families are burdened by a
mountain of debt that they are working very hard
to manage. Peter Costello's so-called "debt free
day" [2006] Yet another sign of a government
completely out of touch with reality. -=[ John
Howard comes to those who wait too long. ]=-
HOWARD'S ECONOMICS ERRORS: More of Howard's cheap
imported workers force real wages down, and prices
up. Household debt has doubled in the past five
years. 85 per cent of household debt is for
housing. Credit card debt, HECs debt, household
debt, and foreign debt have all more than doubled
in the years Peter Costello has been Treasurer. If
we have any more of this type of "progress"
Australia's goose will be very cooked indeed. The
Treasurer's own department in its Economic Roundup
acknowledged that the current level of foreign
debt "cannot continue to rise forever". -=[ Don't
say bastard, say John Howard. ]=-
HOWARD'S INFLATION IDIOCY: Howard/Costello regime
lays the foundation for next massive recession.
Debt recovery specialists want a national registry
of mortgage defaults, claiming more homes are
being repossessed, particularly in Sydney.
Australian households owe $1.045 trillion. Over
the past two years, that debt has grown at 13 per
cent a year. In real terms, the economy is already
in recession. The growth numbers are regularly
massaged by the Government. Australia is now
facing an economic dilemma because of the
Howard/Costello land-price speculation debt
bubble. -=[ Fairness cleans right round the John
Howard workplace reforms. ]=-
HOWARD'S ECONOMICS ERRORS: Howard's property
Ponzi-scheme is about to catastrophically
bottom-out. The economy is facing a recession that
will prove unusually long and severe. By any
measure it is in far worse shape than in 2001-02
and the unraveling of the housing bubble is
clearly at hand. Australian households owe $1.045
trillion. Over the past two years, that debt has
grown at 13 per cent a year. If we have any more
of this type of "progress" Australia's goose will
be very cooked indeed. On Peter Costello's
so-called "debt free day" in 2006, Australia's
foreign debt reached half a trillion dollars. -=[
Don't say c*nt, say John Howard. ]=-
HOWARD'S INFLATION IDIOCY: The downward spiral of
Australia has accelerated under Howard. A quick
slide into a recession followed by years of
agonizing recovery. Howard's economic policy has
been to drive economic activity by a consumer boom
funded by debt, based on rising land prices, but
rising land prices come home to bite us because of
reduced housing affordability. In real terms, the
economy is already in recession. The growth
numbers are regularly massaged by the Government.
Australia is now facing an economic dilemma
because of the Howard/Costello land-price
speculation debt bubble. -=[ John Howard comes to
those who wait too long. ]=-
PETER COSTELLO'S FORECLOSURE FACTORY: Balance of
trade time bomb is ticking for the Howard/Costello
gang. Howard's destruction of manufacturing jobs,
mass immigration of cheap workers, GST, and high
inflation continues to reduce workers' buying
power. When Australia won "The Award for the
"Nation with the Least Affordable Housing", it got
confirmation that the nation is facing an
unprecedented housing affordability crisis. If we
have any more of this type of "progress"
Australia's goose will be very cooked indeed. The
Treasurer's own department in its Economic Roundup
acknowledged that the current level of foreign
debt "cannot continue to rise forever". -=[ John
Howard keeps going and going with added Beazley.
]=-
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