(and I thought we were 'decoupled' from the international maelstrom in the US, UK and now Europe)
The Australian Federal government is doing its very own version of the US bank failure bailout with taxpayer's money, so it can keep the Ponzi scheme going a bit longer and stop market prices for housing correcting somewhere back to where they should be.
Dan at bubblepedia.net.au has sent the following note:
There is a bailout happening right now under our noses for the gamblers. I object in the strongest possible terms to wasting my tax dollars to pay the gambling debts of our own sub prime lenders in an attempt to keep the bubble going for just one more electoral term.I'm trying to get people writing and shouting here: http://bubblepedia.net.au/tiki-view_blog.php?blogId=9
There is also a lot of treatment of the bailout at the Australian forum of the Global House Price Crash site.
Affordable housing competition
There's a competition to produce a 3 minute film of anything to do with 'busting the myths of the housing crisis' from the incredibly busy and energetic team at Earthsharing Australia. I'm very late announcing this competition here, apologies, and I haven't had time to put in a contribution either, unfortunately. However, any quality will do, down to a mobile phone camera...
We are working on a film competition right now called "I Want To Live Here"- it's a call out to those feeling disenfranchised or 'fenced-out' of the housing market to bust the myths of the housing crisis. We want people to share their stories, explore the causes and effects of the housing crisis and speculation into a 3-minute film of any genre or style.
The winner will receive a $3000 cash prize.
The Top 3 film will be shown at an Official screening and the winner announced in early December. Entries are Open now until October 2nd.
--I Want To Live Here Film Competition — Bust the myths of our Housing Crisis--
HQ: 1/27 Hardware Lane, Melbourne 3000
Ph: (03) 9670 2754