Our government debt is not massive at all. It's tiny compared to most Western countries. It's not likely to have any discernable effect on interest rates either. Actually I would be more worried if interest rates were stll low. It would be a sign that the economy is weak and the Reserve Bank is still trying to stimulate it.

or do they conveniently redefine them?

there wouldn't have been a recession here anyway.

"That's the simplistic line that that Howard tried in the last election. Government debt is only a factor in interest rates. Look at the US for instance. Their government debt dwarfs ours yet their interest rates are near zero! "

excellent example of redefinition. Nothing to do with Howard, it's a basic economic tenet: government spending causes inflation, big government spending causes big inflation, interest rates are a casualty of that. There is no way U.S. interest rates will stay low in the medium term, try as they might to keep them down. The government spending / inflation spiral doesn't happen overnight. Just like the Whitlam years here, the inflation started to ramp up years after, it doesn't happen tomorrow.

Inflation encourages people to invest in real estate, not conservative governments, or any government for that matter on the basis of their political persuasion, only on their fiscal management skills or lack there. Property is one of the only assets that can keep up with inflation, that's why people invest in it. Governments that spend up big cause inflation which causes people to invest in real estate which causes the price of housing to go up fast and a lot. Labor governments are invariably the profligate spenders, just like this one - that is what causes inflation and increasing property prices. Blame labor.

Australian currency used to be not just backed by gold, it *was* gold. You've probably heard of Australian gold sovereigns.
Governments around the world abolished gold currency early in the last century so their spending would not be restricted.
Inflation has been the curse of these economies ever since. Now you have the luxury of working all your life and see any savings you have not only taxed to the hilt by governments, but also devalued by inflation.
You are an economic slave to governments as well as corporations in that situation.
The only thing the ordinary person can really do is buy property - hey, then the government wants to tax any capital gains you make on your risk.
Both sides of politics does this sort of thing, labor does it even more.

who do you mean by "they". "they" did tell us, at least some did, over years before and right up to; and they're still saying it.
You don't hear it on mainstream ABC media in Australia though. They are about six months behind being aware of current commentary. If you rely on the Australian media, you will be left at the back of the queue.

they're the ones - that third. Yes.
Now, go on, don't ask me where to find what they're saying will you.
Because we know everything in Australia, don't we.

Did you know that in the last quarter, one of the biggest exports from Australia was gold?
Surprising that, isn't it.
Mind you, the Australian labor government doesn't buy any, and the libs sold all ours fifteen years ago. Oh well, just as well all those sovereign wealth funds around the world can't get enough of it, you know, India, China, Russia, all those sorts of places.
Never mind, we'll be right here eh.
Don't you think so? Yes? No? Oh, what the f^k, where's my beer.

Yes I've chastised Johnny over and over for selling our gold reserves for a song. But I admit that I was being a bit disingenuous there, because our gold reserves really add up to a minor amount of our nation's total wealth. And we have lots more gold still sitting there in the ground.

I also chastised Johnny for skimping on our infrastructure, and that's where I think our real wealth lies.
You can do lots more with a thriving city than you can do with a lump of gold. So in effect, I agree that the lump of gold is a minor priority when compared to a thriving city.
But if you sell that lump of gold, which has proven to have increased significantly in value, without significantly improving the infrastructure upon it's proceeds, then you must really consider Johnny as being nothing more than a total economic moron.

Maybe there's some other economic angle that I haven't taken into account there, but I can see a lot of wasted profits for our country at the hands of one J.W.Howard.