A new research document completed by Dick Smith Fair Go

Many of our supporters appreciated the document that we produced on housing affordability. Following this document, we’ve now completed a new publication headed ‘Australia’s Debt: an Honest Debate’ – it points out that at the time of the John Howard Debt Truck, claiming that we owe the rest of the world $180 billion, that our debt has gone up about 5.5 times. That’s roughly a trillion dollars, yet no-one appears to be complaining.

If you’re like me and you don’t really understand this whole debt issue, I suggest you have a look at following 31 page, easy-read document.

If I’ve got it right, it looks as though we shouldn’t be worrying so much about government debt, but more about private and household debt – it appears we are the world leaders!

Australia’s Debt: An Honest Debate

Comments

  1. Totally correct, Dick, the LNP’s constant chiding Labor about govt debt is a red herring. Look at he debt Turnbull has clocked up! Govts are in a unique position to release more currency dollars, we aren’t, so we must borrow from banks (who are allowed to create credit as well). Govt debt is OK if it is an investment for the future benefit of us, provided it’s kept to a minimum of course.

    With slowing wages growth, stagnating retail growth and a sideways share market (off the back of the mining slump), growing personal debt will choke the life out of us, except the very rich who are (as always) set to benefit from it. It reminds of the conditions leading up to the recession we ‘had to have’ in the early 1990s. All we need is a few interest rate hikes and many will be hurt, again.

    The LNP would like us to think they are masters of the economy, when in truth they’re much the same as Labor, in fact Labor has at times grown the economy far better than the LNP, with lower debt levels.

    As we know, much of the reported growth is only due to population growth. Any figure under 4% is going backwards! The Ponzi scheme is coming closer to imploding! The slow apocalypse awaits!

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