Yes you might not like the principal of China owning other peoples assets in Australia but is it ok for Councils and States borrowing money on our houses twice and maybe from China too and why do we have State Planning Ministers giving our property to Asian businessmen by rezoning land to permit 60 storey housing developments theyby taking away the value in the city growth away from our houses and transferring it to Asian businessmen?
Then once they have sold the dodgy apartments to foreigners, the states need to increase taxes on us all to repair all those little boxes stacked up high into the sky. Who built and worked on these apartments? Mostly Aussie tradesmen who turned a blind eye. Now we have a disaster with RBA now wanting to create more work for these dodgy workmen who wont report poor workmanship before its too late. She will be right eh
So then I been asking who been lending on all these faulty boxes in the sky? Do you really believe the profit reports coming out of some superannuation funds? Is it possible some might be carrying bad loans which have not been assessed as bad just yet? Who is auditing the value of the assets? ASIC is currently investigating Auditors and so they should because I doubt some are doing enough checking. So what are RIO assets really worth? Probably much more but no one will find out because no company can take them over now.
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