These problems have been mounting since the Hawkeating govt was elected in 1983. Net debt to GDP was about 42% in 1983, and grew to about 54% in 1996 when Howard won, and is now about 66% of GDP.
I guess we will just sell off a few more mines, and power stations to China etc.
Of course that will not solve the longer term problem but the party can continue for a bit longer. We can continue to monetise our social capital (more power stations and roads), and sell them off. That is capitalism at its finest.
Eventually we will have a true South Pacific paradise where we become dependent on tourism as the major foreign currency earner. Better learn to put on your best manners as your learn the art of serving with a smile.
loki
people should read this, page-6
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