Aus survived the GFC because of a number of factors 1) china...

Aus survived the GFC because of a number of factors 1) china building cities, highways bridges like crazy, which supported commodity prices 2) as you said the government demolished our surplus on handouts 3) the government launched QE through immigration which brought into the country 1) lots of money, 2) demand for housing+ consumables in general 3) skilled labor 4)The RBA & government has encouraged people to borrow incredible amounts of money @ never before seen super low interest rates which created a mega boom in property that,s now become a Ponzi scheme.

I wonder who or what is going to save us from the next GFC

I think that every human including Ken Henry has a ability to sense when things do not add up or look right, he also knows that all the dirty washing gets hung out to dry then the shit hits the fan ( interesting times ahead!!)