''australia property is just one big ponzie scheme to big to fail at the moment ?? it will fail just when imo''
there's as an important a question as 'when'
and that is 'how'
yes, there's not a lot of argument from anyone that it's not a ponzi scheme -------
but, the risk of any ponzi is what happens when it collapses - does it take anything else with it
and therein lies a big question - whilst a lot of the country is mortgage free - there is a LOT of money in mortgages - and when the ponzi dies --------- yes, when is important - but, how - is as or more important
if it takes the banks down with it ---------- it's goodnight Oz
can any of this happen? ------------ oh yes ---------- imagine a massive collapse in the Aussie dollar for instance --------
that's gonna hurt --------------- we can forget all the bullshit about how it will sell more wheat and wine and lobsters and iron ore
think what it will do for bank loans etc
it's lump in the throat stuff
and that is just one risk
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