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”.
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.
Scott Morrison’s obsequious falling in behind the United States and United Kingdom in targeting Iran again confirms the late former Prime Minister Malcolm Fraser’s assertion that Australia does not have an independent foreign policy.
