Tag: debt crisis
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Australian economy a “walking dead of debt”
Australia’s economy is on a crash course with a major downturn in fortunes due to mounting unsupported debt. Professor Steve Keen has branded the country a “walking dead of debt” as a result of government interventions to artificially prop up the housing market and mounting household debt. Professor Keen’s remarks come as tensions continue to rise…
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Australia 2nd Most Likely to Suffer Debt Crisis
Forbes recently released a study into which top seven countries were the most vulnerable to a debt crisis in the next 1-3 years, and we in Australia were #2 – second only to China. Australian economist Steve Keen writes for Forbes that the same financial mishaps that were the cause of the Global Financial Crisis…