Any thoughts on who will pay the cost when the next big economic crisis hits us? Who will pay the price to protect the value of speculative investments and assets such as housing? Who will the government go after? I'm guessing it will be dependent on who is perceived as an easy target. .
Financial crisis are often predated by a huge run up in debt. Private debt levels (at least in Australia) are now at enormous levels. So if the debtors get debt relief or a bailout, who then will pay?
In that scenario all taxpayers, with savers bearing the brunt having not had the advantage of the bail out... I would expect that the borrowers would suffer the "correction" with gov bailouts supporting creditors. Decided to check out the private debt levels; 2.4 Trillion total private debt with 1.6 making up housing debt, 49billion on credit cards.... makes me wonder why they didn't Nimble it. http://www.australiandebtclock.com.au/
After those that panic-sell their whatever at big economic crisis-bargain prices. Then they'll buy back in. Rinse and repeat. Like always. The easiest targets are those that do what the news-event chain suggests to do.
In Australia it's about protecting the speculative investments of a subset of voters so that they are not too adversely impacted by events that could devalue their assets. The government has no hesitation in simply taking from those who are not in this specific demographic.
That's not Australia specific, that's what all governments (and the parasiting clubs behind them) do: they steal from one "subset of voters" to sponsor another "subset of voters".
Yep, we will all pay to prop up boomers investments right till the very end, they are the only generation that matter to pollies
Haven't u been paying attention the past 7 years?? Its easy... Money will be stolen from the following groups in that order: 1. Deposit holders at the bank(s) 2. Tax payers Capich??
The upper middle class will become lower middle class. The middle class will border poverty. Lower class will literally be living on welfare or on the streets. People in poverty will be dead. The 1%, however, will get a bigger bonus this year.
