How will our oz Pollies respond to the economic headwinds?


There are plenty of heads winds.

Not least being the $95B of household disposable income disappearing down the gullet of the banks to pay interest on household debt mountain. Paying down loans is on top of that.

What is scary is thinking about what the RBA, LNP and the ALP might do to delay the inevitable day of reckoning.1. ZIRP or NIRP2. Even faster sale of assets of shore – public and private IOUs, land, mineral resources, natural gas, industries.3. No action on existing house sales to foreigners or temp residents.and what they will not do. Restructure the banking system to end the system where banks get to issue most new money with a trailing commission attached.It was quite clear on Q&A last night that Bowen is just as keen to let mining companies suck gas out of as much land as possible.Policy is being driven and will continue to be driven by the debt that dare not speaks its name – household debt.The country will be ruined by ZIRP extend and pretend.

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