''australia property is just one big ponzie scheme to big to fail at the moment ?? it will fail just when imo''
there's as an important a question as 'when'
and that is 'how'
yes, there's not a lot of argument from anyone that it's not a ponzi scheme -------
but, the risk of any ponzi is what happens when it collapses - does it take anything else with it
and therein lies a big question - whilst a lot of the country is mortgage free - there is a LOT of money in mortgages - and when the ponzi dies --------- yes, when is important - but, how - is as or more important
if it takes the banks down with it ---------- it's goodnight Oz
can any of this happen? ------------ oh yes ---------- imagine a massive collapse in the Aussie dollar for instance --------
that's gonna hurt --------------- we can forget all the bullshit about how it will sell more wheat and wine and lobsters and iron ore
