(It is very interesting going through old stuff. If only the Ruddbot had read my blog! Perhaps we wouldn't have to spend our way out of recession.)
According to Valerie Yule in Online Opinion in her article "The big election myth - is the economy strong":
"Australia’s gross foreign debt is now $473 billion and increasing, up from around $78 billion in 1986. The major component of gross foreign debt is borrowings from overseas by residents of Australia, and includes borrowing by banks at low interest in order to lend to indebted Australians at higher interest. It is now 74 per cent of GDP, with the annual interest burden growing accordingly."
This can't be good for the the larger society, so, here's a modest proposal.
Seeing as Australians cannot be trusted to make responsible choices with their own money, the governement must move in immediately to stop this wide spead problem-gambling with our future.
The army should be called in immediately with a shock and awe response, bring in accredited phychiatrists to examine the population for greed, selfishness and bad taste, and bring in a system whereby people are only paid in food ration tickets. All excess cash will be redirected into paying off mortgages and credit cards untill the national debt is reduced to zero.
The entire population will have to prove that they have passed a course in charity, social justice and sustainable living, before any such restoration of access to their disposable funds can be considered. Also, if their children fail to curb their adiction to MTV, mobile phones and the internet, the children will be removed from their influence and cared for by the state.
There are an infinite number of further restrictions that could be imposed after the initial action, but this will be a good start.