Australia has no government debt, this means that consumers and private enterprise are the only ones who owe.
Debt creates money throughout the economy, by borrowing now to build a house, I put a builder into work, he buys tool, hires others and the routine goes on. That money I borrowed has created welfare for others.
Should you feel guilty about our NFD? Nope, we are sitting within healthy economic guidlines with our NFD only a fraction of GDP. This means the economy is robust and growing.
Aaron
Posted at June 9, 2008 2:46pm, 09 JuneNope, Feel no guilt. Without debt, there is no global economy, and with no global economy, there is only chaos.
Josh Strawczynski
Posted at June 12, 2008 11:57pm, 12 JuneAustralia has no government debt, this means that consumers and private enterprise are the only ones who owe.
Debt creates money throughout the economy, by borrowing now to build a house, I put a builder into work, he buys tool, hires others and the routine goes on. That money I borrowed has created welfare for others.
Should you feel guilty about our NFD? Nope, we are sitting within healthy economic guidlines with our NFD only a fraction of GDP. This means the economy is robust and growing.