australia is greece of asia, page-13

TB, "populist policies" always determines govt coz popular views determines who gets elected. It's called democracy (for better or for worse). Anyway, such comments belong on the Politics thread, not here.

So getting back to the economic comment on the first post, Australia's level of public debt is low relative to other G20 nations so it's not a problem (at least for the foreseeable future). It's the historically high level of private debt (both to income and to GDP) that is the real problem for Australia. A problem that will become a crisis as commodity prices continue to fall, GDP continues to decline, unemployment continues to rise, wages continue to stagnate and as property prices fall from a debt fueled peak. Yet this is the real issue few people are discussing let alone planning for.