WA bailout pulls plug on loon pond

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Gina Rinehart declared on the weekend that Australia is the next Greece:

“Are our country’s business leaders just going to call for more handouts for their failing businesses struggling to be sustainable with the commodities crash?’’ she said.

“But where can such taxpayer funds come from given our debt and that we’re having to borrow money to pay even the interest on our government debt?’’

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.