Created: Monday, 12 February 2007 Written by *CAPTAIN_AUSTRALIA*Big economic shit is coming!
The Australian Prime Minister would be wise to
quit now, and leave the looming foreign debt
crisis to Kevin Rudd. If Rudd get in as PM, he
will have have to cop the blame for the massive
economic contraction that is made inevitable by
the massive foreign debt that is now more than
half a trillion dollars ($522 billion) by the
latest (December 2006) official figures.
The balance of trade precariously dances on the
knife-edge of demand for minerals.
The Government has put all our eggs in the one
basket - the so-called resources boom. If there is
even a minor downturn in this area, the foreign
debt could destroy the illusion of prosperity.