Oz Bank Watch:  The root cause of the Australian housing bubble fiasco.

An excellent interview from Renegade Inc.

Professor Richard Werner and David Buik talk with the host Ross Ashcroft Werner_Richard.tif_SIA_JPG_fit_to_width_INLINEabout what is wrong with modern banking – especially in the UK.

Plenty of lessons for Australia, where our current woeful government reckons a massive house price bubble constructed with record levels of household debt and taxpayer guaranteed foreign debt is evidence of sound economic management.

And the best Mr Morrison and John Alexander can do, they need to look like they are doing something while doing nothing at all, is offer innovative ways for young families and first home buyers to take on even more massive amounts of debt to keep the farce from imploding.

Not surprisingly our RBA and APRA dont touch on this subject matter in their regular outings to after dinner speaking engagements, where they spruik the absolute fabulousness of the massive debt bubble they have cooked up with the assistance of a capital gains discount policy from Grandpa John Howard and Uncle Pete Costello.

Butter up the popcorn and enjoy!

Categories: Macrobusiness

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