Most people - but, particularly Ozzies - because Ozzies have had such a lucky run of life - can't see that their 'normal' will change
Ozzies couldn't see their freedom - which they considered perfectly normal - being chipped away in the last 40 odd years - they couldn't see it - although it was happening in front of their noses.
So too - they cannot see a dramatic housing collapse or a depression - it's just unimaginable
yet - we have the economy set up perfectly for such a catastrophy - if the wrong black swan lands giving the world a condition - which gives Oz serious symptoms - Oz has a couple of vital organs which are very vulnerable.
Coal, Iron Ore, all transported across oceans - what could possibly go wrong? -------- well, the list is actually scary.
so, is there a buffer - a cash bank to weather the storm? --- record gov. debt and the worlds greatest personal debt - and a currency which could be knocked for 6 if confidence fell - say - no buffer and no credit card that one can depend on
have a read of this --------- read about what happened here to house prices --
this nation didn't think 'normal' would ever change either --
Oz sits in oblivion - - no one imagined today - back 2 years ---------- yet - here we are - very much different normal to 2 years ago
and, what is the one thing that we KNOW is coming in the next say - 20 years??????? for sure?
MASSIVE change -- don't get used to normal - it'll be different next year
