govt reveals its main fears, page-11

Honestly Mike, can you see any other way out of this? The only way maybe is for each country to re-invest into a self supporting/self growing economy. We can't gorw anymore by selling imported stuff. We've seen the results and it's nearly done us all in. Time to get tuff......we must limit the sheer volumes of imported products coming into the country. We've been fooled. House prices were running at 15 to 20% inflation per year. At the same time we have mported Chinese stuff deflating just as fast - the two put together had the overall inflation adjusted to 2 to 3%. Plenty of money was flowing at high velocity. Retail was boosting wealth. Wealth was boosting housing. Housing was demanding more good to fill the extra rooms and growing needs. In the meantime, more money was leaving the country than what was coming in, and this is the most profitable period in Australian mining history. We've been conned. House prices will no longer infalte, as imported stuff from China will now rise. Only another epansion of credit will improve the show for us wanting a happy ending. Somewhere, sometime, somehow, something's gonna give. If society is now taught and ecouraged to save, as well as spend, then no lessons will have been learnt.