http://mobile.abc.net.au/news/2013-11-14/hockey-warns-of-us-style-shutdown/5090722
Thoughts? If it happens, what would the effects be on property investors?
Thoughts? If it happens, what would the effects be on property investors?
Hockey warns of US style shut down over debt ceiling.
- Thread starter Prop_Perspectiv
- Start date
It's not going to happen. Debt is forecast to peak in 2016 when we are due for the next federal election.
Hockey doesn't want to ask for another rise at that time so he is asking for the an over the top amount now.
Labor have said let's debate it in parliament but have guaranteed a compromise of increasing it sufficiently to cover the forecasts.
Also Hockey wants to give the RBA some funds to play the forex markets with in expectation of huge dividends when our dollar falls in the future.
Odd because it would be cheaper for the RBA to create the funds electronically and invest them overseas rather than issuing bonds on which interest has to be paid.
They are just playing politics with the next election in mind. Load up on debt now and blame it all on Labor.
