Our addiction to low interest rates and off-shore debt is killing Oz car manufacturing No. 1

This comment was made this week at http://www.macrobusiness.com.au  (link may be locked)


It is a crying shame that we adopted policies that bloated our exchange rate with sales of public and private IOUs off shore to feed an addiction to low interest rates and household debt.

When that process ceases will have neither the lifestyle we are accustomed to nor the means to restore it.

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