Well Australia's private debt certainly ain't conservative by any stretch of the imagination. And that debt relies on foreign funding. And that funding relies on a govt guarentee.
It's all relative isn't it.
In effect, what your bloke is saying Warnie is that Australia's economy is better than Japan's, the UK's and the US's. Blink, blink: Is that an outright endorsement or just a comparison with basket cases?
Interesting bit in today's The Australian on pg4 that basically says Australia has 2 million too many homes and that high prices cannot be blamed on a lack of housing stock.
But I know that established property investors care nought about supply and demand.
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