Debtland (45min.)

[LargoWinch]

Debtland

Reporter: Stephen Long
Broadcast: 31/03/2008
Mortgages doled out to people on disability support pensions; loans to refugees with no English and no jobs that leave their families with next to nothing to live on; home loans so large they push borrowers below the poverty line…

This isn’t America’s sub-prime meltdown – it’s Australia’s debt debacle, the legacy of a credit binge that’s sent household debt through the roof and lending standards through the floor. Now the hangover is kicking in.

...

[ThePythonicCow]

Re: Debtland (45min.)

The financial corruption of the last century has poisoned the lives of many people. The risk of a populist uprising exploding is getting higher.

[marvenger]

Re: Debtland (45min.)

The opportunity came and went when Hank put a gun to the public's head and the public said 'please take all our money and our kids' too', instead of telling him to get a dog up him. Thank the education system and MSM for that i think.

[marvenger]

Re: Debtland (45min.)

actually you may as well just blame the source, capital accumulation and letting capitalists be in charge of everything = current education system and MSM. ie its unfettered capitalism's fault. Sorry I don't buy this Austrian economics libertarian its all the FIRE economies fault crap.