Steve Keen is quite the analyst, his timing has just been poor. If you read through the previous thread in this section there is plenty to be concerned with. All it's going to take is a sufficient catalyst. The credit bubble exists, it is very real, and whether your head is in the sand or not it is likely to result in a rapid unwind. History is very clear and Australia is not exempt.
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Australian home prices boast best year since 2009, rise nearly 11 pct-CoreLogic, page-6
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