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Mish is saying the same thing as I am trying to explain here I am not the only one that think the future of Australia is not in Australia's hands (not that I always agree with Mish's writing) Edit: the public debt in Australia is probably just around 20% of GDP if you include the gov mortgage...

Portugal, greece and UK don't have the commodity and resources Australia have and at present and probably for sometime in the future are very valuable. But apart of that the total debt (private + public) of Greece is just over 200% of GDP while portugal a bit more around 230% GDP Australia is...

the long term view of Keen is not far off reality. His view is pretty much what is happening in greece and Portugal now where debt can't be sustained anymore and deflation kicks in, surely home prices in those countries are not going to hold up for long. we'll see in the next few years how...

The goal posts have been shifted by huge amount since SK had is bet. The main shift was in commodity prices and demand that more then double since then. The AU$ did double as a consequence as well. Without that shift unemployment now would be double digit and retail sales would have crippled...

If property prices hang up in there without falling for another couple of years then both Shadow and keen will be right with Shadow claiming it will be the slump from construction boom supply and keen from credit crunch