Addendum to ‘A Stimulating Package’
Speaking to the ‘stimulus’ bill — Click HERE for full transcript.
How do we rescue a consumer society from a crisis brought on by short-term thinking and toxic debt? Apparently, we rescue it with a massive short-term injection of cash to provoke urgent consumption, on anything at all, that takes the country deep into debt.
Housing is a human right, but in Australia we have treated it like just another asset class and cheered on a property bubble that has left millions of people in housing stress and now threatens many more with mortgage default as prices recede. So it is good to be in here today to pass legislation that begins to move us forward. But let us take a long hard look at fact that the free market did not provide for everyone. It worked nicely for some, and it has really stranded many others, to the degree that up to 100,000 Australians now meet some definition of homelessness.
As far as politicians go, Senator Ludlum is alright, despite being pretty much all left.