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.
Barnaby Is Right 
Barnaby, what we need to know is how we can reduce our exposure to this finacial mess this time? When the G F C happened last time we lost a lot in super. As people who do budget, live wthin their means and do not take high risks. What can the average Australian do? I have given up any expectation that our government will take prudent steps to help our economy
Go to CASH!!, Margaret. And then hope the banks hold up!!
The govt. has no money. They only have access to ours. And then they waste it and then they run up debts in our name, get kicked out, and receive huge payouts from us in pensions.
Who are the greater fools??
As per 2008, “mattress bank” will do very well indeed. As will “gold-in-the-garden bank”, one would imagine.