aussie collapse coming.

Economist says debt levels more dangerous than inflation.

One economist who's been measuring Australia's private debt with growing concern says the Reserve Bank has made a big mistake with today's rate rise. Dr Steve Keene is Associate Professor of Economics and Finance at the University of Western Sydney, and he predicts that escalating levels of debt in Australia will push the economy into collapse within two years.

Dr Keene says the Reserve Bank is part of the problem, because it's focusing on inflation rather than this rising debt.

http://www.abc.net.au/worldtoday/content/2006/s1783919.htm