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Tapdancer

3,740 Posts.

103

14/06/23

20:38

Post #: 68289301
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Originally posted by moorookamick: ↑

Our problem in Aus (not America) is that the big corporations
are predominantly foreign owned with profits being sent
overseas.

This means that our 4 big banks (which are majority US owned)
have to go overseas annually to borrow money so that we can
live a lifestyle which we really cant afford.

This is why our Sovereign Debt is increasing at about $90 billion
P/A without any prospect in the future of ever paying down our mountain of taxpayers' debt.

https://australiandebtclock.com.au

And dont mention the $9 Trillion of overall debt!!!!

Combined Comm + States + Muni debts are now rapidly approaching 100% of GDP
and with bond interest rates increasing, this will only increase into the foreseeable future.

So to address the topic, we have caught the US (western disease) of debt funded budgets
and to a rational person, that may seem "madness"

Can we do something about reversing this rot?
IMO we can by voting-in a Government that promises to remedy our economic woes
and set the Aus economy on a path to prosperity for all.

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What's wrong with sending profits overseas? Those overseas shareholders are entitled to exactly the same profits as local shareholders are.
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