It may be old news but he still makes a case albeit an extreme...

It may be old news but he still makes a case albeit an extreme one. Who in Australia can argue aginst the cost of replacing old and failing infrastructure (power,water transport ect.). Also the nightmare of an ageing population that is unable to support itself, while living longer with consequent increases in medical expenses. Couple these with increases in inflation and increasing debt. The picture is not very rosey, there will some pain coming maybe not as much as our friend forsees but it will still hurt.