It’s not that Wayne needs much convincing to create more debt.
One need only look at the epic, world-beating rise in Australia’s public debt under The Goose, using the GFC as the excuse.
Now, just when he might be beginning to run out of excuses, here comes the IMF with the cue Wayne needs:
IMF boss says no country in the world is immune from the crisis and all must take steps to boost growth, with risks of inaction including ‘isolation and other elements reminiscent of the 1930s depression’.
Regular readers know that the IMF has decades of ‘form’.
It will always call for nations to “stimulate” growth. Why? The deeper in debt, the sooner the IMF is called in to “bail out”.
Taking the nation’s infrastructure (airports, highways, ports, railways, telecomms, electricity grids, etc) as collateral.
And, the nation’s sovereignty.
Wayne is just the Goose to lay the IMF’s golden egg.