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13 February 2013 - 12:14 PMYeah, but don't forget Crest.
Alan Jones is definitely a millionaire and Barnaby Joyce is probably not short of a crust either. Him being an accountant and all!
They both own extensive land holdings and property and probably believe it is their God given right to live in relative luxury while others scrimp and struggle for every crumb. They both have grown up with silver spoons in their pantry.
Exactly Sol! You've hit the nail on the head.
Alan Jones and Barnaby Joyce probably don't carry much housing debt or aren't looking down the barrel of having to take on much debt to fund a basic level of accomodation.
So they rant and rave about the Federal Government's debt but they don't give a rats about HOUSEHOLD or INDIVIDUAL debt.
The reality is however that individual and household debt is a 10 times bigger issue for the average Australian than anything the federal government has on its books. But it doesn't affect Alan or Barnaby so it's hidden and treated as a non-issue by these vested interests.
And so we get the double-think. Federal Government debt is bad... but inflation of house prices and ballooning household debt is good. Morons, both of them.
13 February 2013 - 08:54 AMI doubt there is a "gag order".
The more likely reason it is not raised in the press might be because the level of household debt to household income is boringly at the same level it was over 7 years ago in 2005. RBA table B21 column D.
That's hardly something to stir the readers' interest.
As Staring Clown noted, household debt is NEVER menitoned. It wasn't in 2007 and it isn't now.
Its the "great unspoken" in Australia. You can talk about Government debt all you like but never ever mention HOUSEHOLD debt levels. At least that's the meme in the mainstream media and in Federal Government politics.
22 January 2013 - 11:22 AMThey can't mention it. To mention the amount of debt would to imply that somehow it wasn't normal. That it was a problem. They just need the prices to increase so homeowners forget the debt and think about the equity.
Ok, I can understand this from a politician's point of view.
But when Jo Hockey (or any other Pollie) is up there talking about the evils of the Federal Government's debt and the pressures it puts on families and how we will be paying it back for years... wouldn't some journalist pop his/her head up and say... "Joe/Wayne, what about the debt that Australian households are in right now? What have you to say about that?" I mean to me it's obvious where the bigger issue lies.
Why is it the great unspoken?
22 January 2013 - 11:04 AM
22 January 2013 - 10:44 AMA jump in the RPData daily index over the first three weeks of January? What volume of sales is the data calculated on? The REIV haven't even published any auction figures yet. The numbers are presumably too low to be bothered. I imagine Sydney is the same.
Yeah, its amazing though how quickly the Australian Property Propaganda Machine jumps on these tidbits of information. Here in Sydney ofcourse the nightly news ran the story with the regular meme about how it's cheaper to buy then rent. Blah, blah, blah... Doc Ando got himself on tele and had his speil.
Ofcourse for me personally I find it unbelievable how the issue of household debt is never mentioned... ever.
At a period in history where Federal politicians are ranting and raving about the nations debt levels the silence on household debt is deafening. And household debt is at staggering levels.... But you can't get a politician to talk about it... or a journalist to ask a question about it.
It's bizarre to me. Just totally and utterly bizarre.
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