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  1. M

    For those worried about the current account deficit & dependency on foreign borrowing

    Not much, because they used the profits of a 10 year boom. You can't count on that happening every decade. And who knows what wonderful things could have been done with that windfall if they did NOT have to repay billions in debt? Better hospitals and schools? Lower taxes? Better roads...
  2. M

    For those worried about the current account deficit & dependency on foreign borrowing

    Yes, but after all he is really saying not to worry about your $20K credit card bill because your neighbour owes $50K. Wait till we have to start paying it back - or at least paying the interest each year on top of everything else!! Marg
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