Our national media does a pathetic job of educating and informing the population about significant things - preferring to concentrate its efforts on sport and scandal. And Senator Conroy wants to give them even more money for doing such a great job - but that is another story.
And with an absence of knowledge about facts it becomes easy to influence small non-curious minds with ideas, thoughts and comments that pander to their ignorance and bias. Politicians and snake oil salesmen know all this and build their products and offerings around it.
The new/old *blues* leadership have been running around recently telling all and sundry that the Australian government debt position is serious and Barney even said that if things keep going the way they have then "the government" may even "default" on its debt.
Fortunately the Governor of the Reserve Bank has shown that to be the nonsense it is when he fronted the Senate this past week.
And all we really need to do is check out the attached graph to see the real debt story. This clearly shows that "government debt" and "personal debt" are miniscule in the scheme of things.
The real worry is "mortgage debt" - yep the same mortgage debt that is being accumulated by those people who are on their way to becoming "real estate millionaires" - because they just know that house prices never retreat and they are such smart and savvy investors.
My only question is this. "What makes them think that they are so smart and savvy with their real estate investments - when they are so dumb and ignorant about what is being offered by their politicians"?
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