Thks wooduck,baxter and thorburn,i agree 100% with the contents of your posts. I will buy now and was nearly successful in one attempt.I really can't complain but just to explain why i refer to current debt as monopoly money when competing with my savings for an asset like a house/home purchase. Because imo a reasonable level of our current debt will be as useful as monopoly money at some stage in the future in the form of bad bank debts and house price reduction ,but i must use real savings to compete.(maybe house prices will not decrease if chinese demand for our housing increases).
ps can't get over the australia debt clock website.
Which brings me to the following. Thorburn,a couple of times by memory you have mentioned the build up of the chinese military.Lateline interview was with some expert i have seen before who imo makes common sense. First i'll qoute figures by memory,the US spends 680b on military 4.6% of gdp reducing to 2% in 20 years.China spent 166b and is growing double digit figures each year,japan 60b,UK 60b,india 45b. When asked whether china is a military threat he suggested not because we and NZ are doing every thing china wants eg selling mining,agricultural,residential assets. But he went on to say in 20 to 25 years unlike today where our foreign minister feels confident/powerful enough to say china should not have put air restrictions over japanese islands,he suggests they will be powerful enough to force australia to agree with chinese policies and the US may not be in a position to support us. Interesting he said japan was trying to work with india,the hope being india will by then have a younger and larger population than china and if india can get its economic act together in 20,25 years to become a balancing military power in the asian pacific.
I'm complaining about house prices,but i think the younger generations will be complaining about our economy and the economic dominance of china over our economy and the chinese military intimidation of australia (but quietly)
ps he also suggested china has clearly become more aggressive in last couple of years give them another 20 to 25 years.
ps he also said abe visiting the japanese war crimes shrine was notgood and the US etc told abe not to and i agree after what i have read what the japanese did to the chinese in ww2.
