Widening government debt in the US,key European economies and China and the spectres of Donald Trump and Marine Le Pen are increasing the threats to global financial stability.
Australians are having fewer children with the fertility rate tumbling. The treasurer says people should think about having more kids.
Support for parents of school children and housing affordability will be priorities in a state budget that will show Victoria’s net debt hitting a new peak.
Rising government debt and deficits in the world’s two largest economies could have spillover effects on the rest of the global economy.
States have ramped up spending to pay for ambitious infrastructure projects,prompting ratings agency S&P Global to warn their debts are inflationary.
The Congressional Budget Office expects the world’s largest economy’s deficits and debt to soar to record levels over the next 10 years.
The bank argues the state’s towering debt levels are not unprecedented and there is a credible path out of financial strife.
The state government’s economic modelling reveals that more interest rate pain could have a devastating impact on Victoria’s already precarious financial position.
The Victorian Auditor-General’s Office argues that the government has not laid out a plan to pay down its rising debt and flagged further risks to the budget.
The ugliness in Washington is set to be on show again this week as the US gets closer to a shutdown. The stalemate highlights the need for a long-term plan for its finances.
It is almost a certainty that central banks will again be forced to slash rates and revert to funny money,creating another bond bubble. This looks like the perfect entry point.