People must watch this.
Professor Michael Hudson, world renowned economist speaks to an audience in Vancouver a city, a city that now has a 70% Chinese population and Housing price bubble akin or worse to Australian cities. At the 16 minute of the video mark he discusses Australia. He goes on to say that Australia has become a place with insane house prices, Australia has no Industry and those who can afford mortgage are no longer Industry employees. He goes on to relate a discussion he had very recently with the Governor of our Reserve Bank where the discuss this dilemma.The Governor of the Reserve bank states that Australia is very fortunate to be located in a very cosy neighbourhood; near China and we can do without 95% of our population and Industry because the Chines buy all our Natural resources and virtually fund the Country
Hudson then asks the Governor what happens eventually to the Australian population and the Governors response: we haven't factored that in.
