Immigration Forum / Australia and NZ / May 2007

The downward spiral of Australia has accelerated
under Howard. Household debt has doubled in the
past five years. 85 per cent of household debt is
for housing. The average price of an Australian
home is 6.6 times the average income. In real
terms, the economy is already in recession. The
growth numbers are regularly massaged by the
Government. Peter Costello [1995]: "the high level
of foreign debt...makes Australia more vulnerable
and increasingly at the mercy of international
financial markets...and every Australian pays for
the consequences." -=[ Don't you just love being
impoverished by John? ]=-

HOWARD'S EVICTION ECONOMICS: Australia's economic
dilemma. Every major recession in Australia was
preceded by such a property "boom" as Australia
now "enjoys". Sydney is the seventh least
affordable city in the world in which to buy a
home, and the least affordable anywhere outside of
the US. In real terms, the economy is already in
recession. The growth numbers are regularly
massaged by the Government. The Treasurer's own
department in its Economic Roundup acknowledged
that the current level of foreign debt "cannot
continue to rise forever". -=[ Feel the raw naked
John Howard in the workplace reforms. ]=-

HOWARD'S IRAQ WAR ECONOMICS: Australia's Trillion
dollar household debt. Household debt has doubled
in the past five years. 85 per cent of household
debt is for housing. Credit card debt, HECs debt,
household debt, and foreign debt have all more
than doubled in the years Peter Costello has been
Treasurer. Even after 16 years of growth in the
money supply (debt), voters are entitled to ask
when will the situation change. They are also
unlikely to be forgiving when things turn. On
Peter Costello's so-called "debt free day" in
2006, Australia's foreign debt reached half a
trillion dollars. -=[ Your flexible John Howard
gave you unaffordable housing. ]=-

PETER COSTELLO'S EVICTION EMPIRE: Howard's
depression/recession will bring winners and
losers, but most Australians will be losers. The
economy is facing a recession that will prove
unusually long and severe. By any measure it is in
far worse shape than in 2001-02 and the unraveling
of the housing bubble is clearly at hand. When
Australia won "The Award for the "Nation with the
Least Affordable Housing", it got confirmation
that the nation is facing an unprecedented housing
affordability crisis. If we have any more of this
type of "progress" Australia's goose will be very
cooked indeed. On Peter Costello's so-called "debt
free day" in 2006, Australia's foreign debt
reached half a trillion dollars. -=[ Reach out and
touch John Howard if you dare. ]=-

HOWARD'S EVICTION ECONOMICS: Howard/Costello
regime lays the foundation for next massive
recession. No money for housing or welfare but
billions pour into Howard's military adventures.
Credit card debt, HECs debt, household debt, and
foreign debt have all more than doubled in the
years Peter Costello has been Treasurer. Hard
working Australian families are burdened by a
mountain of debt that they are working very hard
to manage. Peter Costello's so-called "debt free
day" [2006] Yet another sign of a government
completely out of touch with reality. -=[ The real
smell of John Howard is in the workplace reforms.
]=-

PETER COSTELLO'S FORECLOSURE FACTORY: Howard's
depression/recession will bring winners and
losers, but most Australians will be losers. Every
major recession in Australia was preceded by such
a property "boom" as Australia now "enjoys". Debt
repayments are now taking up a larger proportion
of household income than when interest rates were
at 17 per cent in 1989. Even after 16 years of
growth in the money supply (debt), voters are
entitled to ask when will the situation change.
They are also unlikely to be forgiving when things
turn. On Peter Costello's so-called "debt free
day" in 2006, Australia's foreign debt reached
half a trillion dollars. -=[ Don't say sacked, say
John Howard. ]=-

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