We would be all better off if there was a depression, in the long run. All the asset classes have run away like a steam train, it's completely out of hand. The people in Australia and the Government need to live within thier means and stop living on borrowed money (time). Honest money, backed by a tangible asset such as gold, will ensure confidence in the monetary system and eliminate inflation which is stealing ALL of our money by stealth.
The natural boom / bust cycle has been suppressed by the Fed and other central banks around the world by rampant money printing to reinflate bubbles on bubbles.
Eventually there always has to be a day of reckoning and the longer it is delayed, the worse it will be when it comes.
