Should Australia become a republic?

Ronnie Jane Devo · 03-18-2010, 12:57 PM

Looks like things in Australia aren't quite as rosy as I first thought:

http://www.reuters.com/article/idUSSGE61805120100209
http://www.smh.com.au/business/dont-...0219-8c6e.html

It appears there's close to $2 trillion in private debt in Australia, twice its GDP. You guys may be on your way to the same credit crunch followed by massive layoffs and housing foreclosures that the US has been experiencing, while your government conveniently ignores the problem.

03-18-2010, 12:57 PM	#27 (permalink)
Ronnie Jane Devo moon shoes Join Date: Dec 2009 Location: Virginia Posts: 57	Looks like things in Australia aren't quite as rosy as I first thought: http://www.reuters.com/article/idUSSGE61805120100209 http://www.smh.com.au/business/dont-...0219-8c6e.html It appears there's close to $2 trillion in private debt in Australia, twice its GDP. You guys may be on your way to the same credit crunch followed by massive layoffs and housing foreclosures that the US has been experiencing, while your government conveniently ignores the problem. __________________ Last.fm