By John Miller
Friday the 24th of November, 2017
By any reasonable estimation the Australian property market is ridiculously over-valued at $7,300,000,000,000. For a population of 24.13 millions whose total wealth is estimated at $8.9 TRIL, the inevitable popping of this bubble will come as a shattering blow to the national psyche.
Australia has enjoyed a good run, with resources aplenty, and it ought to have been well able to provide a comfortable existence for all of its citizens, and a better quality of life for recent than former generations. Not so.
Instead we sold the farm, we gave the Red Chinese our minerals, we imported as many foreign nationals as was necessary to keep wages depressed, and then a very narrow band of Australia got quite rich. Well done, faggots.
All this might not have been so utterly depraved, if those who were doing well out of all this globalisation weren’t so keen to extract exorbitant rents from the landless generations and new arrivals coming after them, but instead they were busy pulling up the ladder behind them. To keep their property bubble going, they let nothing jeopardise their rents. More immigrants, less public housing, whatever it took.
Today these greedy vermin are on the verge of their come-uppance, as the property bubble looks to finally and cataclysmically explode. The Australian banks will not get away with their crimes against the nation either, and with any luck they’ll drag the whole bloody global banking system down with them.
If the middle classes who were duped and end up with nothing after the secured investors cut and run decide to start hanging our money grubbing and morally ambiguous politicians from lamp-posts in the street, then who could blame them?
The good news is that Australia is an industrious nation that is rich in every type of natural competitive advantage, and the sooner we chase out all the dirty Red Chinese money, and bankrupt those greedy bums who made their fortunes at the expense of the rest of the nation, we will become a great nation again.
Any nation that keeps most of its citizens in a permanent state of borderline poverty with rents and ridiculously large mortgages is a farce, and that is what Australia has become.
The Australian Dollar is today is trading at around 76 cents US.
Full disclosure: John Miller’s IRL name is Frank Faulkner. I’m an Aussie and when I’m not obsessing about Conservative politics or defending Trump I also enjoy various sports and Christian activities.