Oz. interest rates are going to go up, in fact, they have to go up - despite all the pain higher interest rates will cause.
"Australia is one of the big net debtors of the world. It owes the rest of the world around $1 trillion," from a combination of government, corporate and bank debt, he said. "Relying on the kindness of strangers means that Australia owes the rest of the world a lot more than they owe us," he said. "When risk goes off, the worry is that international investors are more inclined to keep their money at home."
