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Thursday, May 23, 2013
Marc Faber cautious on Australia
Dr Marc Faber of the Gloom Boom and Doom report is said to be moderately positive about Australia for years thanks to the resources boom but is now concerned of a huge credit bubble on the household level. These debts will be a burden for years to come.
Once you are so heavily indebted, then obviously your consumption will grow at a slower pace.