Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
Prime Minister Scott Morrison’s announcement of the Australia-United Kingdom-United States (AUKUS) alliance explodes the myth that by standing up to China, Australia is defending its “sovereignty”.
The Australian government and major-party politicians have one response to concerns that bank deposits could be “bailed in”: don’t worry, you’re protected by the $250,000 Financial Claims Scheme (FCS) deposit guarantee.
Since the election in May, the Morrison government, Reserve Bank and Australian Prudential Regulation Authority have thrown everything and the kitchen sink at reversing the fall in house prices.
