Is a sledgehammer about to hit Australian property investors? Double Down asks Steve Keen who has long studied the uniquely absurd property market in Australia. Keen reckons property investors, rather than owner-occupiers, are, indeed, going to get hit hard due to not only rising interest rates and falling property prices, but by new regulations aimed at curtailing lending to these speculators. They also discuss the recent op-ed in the NYTimes from former Treasury and Federal Reserve officials calling for greater unlimited bailout powers for these very same sort of speculators but only the politically connected international bond investors. Finally, they look at the Greek ‘bailout’ that wasn’t and the catastrophic austerity programme baked into their economic cake for the next few decades. Tune in to hear more.
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