Comments by "MW" (@mw4507) on "Australia's Housing Crisis is Insane." video.

all money comes into existence through debt. As we pay money back to the banks and credit cards, that money is destroyed thereby lowering the money supply and the banks just keep the interest we pay. Things aren't getting more expensive, money is losing value by the sheer volume of it in the economy, see the M2. When this happened in the US, eventually they had to crank rates up to 18%. Eventually, people paid their debts and didn't borrow more thereby killing the creation of money, poor investment, and inflation. You want to see home prices plummet? Raise interest rates to 15% for a year. There will be zero buyers, a bunch of banks will go bust and people who do have money will be able to buy houses on the cheap. This wont happen because the govt is borrowing too much money and this will bankrupt it. This will go in until poor people get fed up with inflation and vote everyone out of office.
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