Credit booms and a fancy taps and toilets economy

To read the original version of this comment in the original context at Macrobusiness.com.au click this link. (link may be locked – but there is a free trial available)

On matters economic we have a major hubris infection at the federal level.

Neither side has any concept of what will be involved in weaning the country off credit boom economics.

Large chunks of the economy are reliant on credit boom conditions.

Will a grey and flat housing market keep shops selling fancy taps and toilets and other items essential to housing over capitalisation afloat?

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