Not Labor vs Liberal not my party no other just a question ,is this a good election to win?
Interest rates will rise who ever wins by how much?
Independent experts have said in 12 to 18 months it may be 17% again!
Our credit card dept is huge, no way around it it will come home to haunt us.
American housing crisis is real, and will get worse, do we go down with them.
It is said whoever wins MUST tighten credit just to stop runaway credit card and house borrowing dept.
And housing ,can we in harder times pay for it, that massive debt some of us have?
A very large number of holders of those debts have never seen great rises in unemployment, a recession, or credit squeeze, they will.
No doubt they will see the economy has always been like the sea waves of rises and falls.
Those best served will prosper some who think they are safe may not be.
So what is your view good election to win or hard careful work ahead for the victor?

I doubt very much that interest rates will get above present levels. Inflation is at low levels and is not predicted to get much above 3% looking into the future. In fact it is advantageous if we get higher inflation. It is inflation that destroys debt so higher inflation will be advantageous to those people with large debt levels (provided of course that wages keep abreast of inflation). With the emergence of 1.4 billion consumers in China this election will be a great win for any party.

Seaweed we should not let the bright light of self interest blind us to personal responsibility.
My quote about the potential for much higher interest rates did indeed come from a highly qualified and truly independent person on ABC radio national.
But if it came from a street corner spruker I would need to take it as possible true.
If credit gets tighter, if debt is called in some are very much in trouble.
And the incoming government is going to be blamed.
Our history in just this country has time and again shown credit is not free money we must one day repay it.
Right now house payments are hurting some so badly the are living week to week on credit cards.
Unfortunately buying luxury items for personal comfort on those cards too.
As I said , some have not lived in times of recession, or credit squeeze, some are over committed and will understand personal responsibility far too late.
Always governments take the blame after such fire storms within the economy.

Interesting after posting this morning I found the Sydney Sunday Herald had a story and an editorial about this subject.
They say 8% of mortgage holders are in trouble, and that some are paying house loan payment on credit cards, that can be interest on interest such cards can be 13% and more.
While we can not ignore personal responsibility the incoming government changed or not will be blamed.
The latest poll results run on this site are interesting.

I am just a bit surprised the thread has not found more attention, so be it.
However I have zero doubt both sides of politics understand some weeds are growing in our economic garden.
And even less while both sides will refrain from mentioning it, both plan some weeding after the poll.
I think some will be intent on blaming, wrongly, the incoming government who ever that is.
Not seeing an economic crash far from it but some tightening of credit has to take place.
In credit squeezes of the past, or even high interest rates , not every one is harmed, even the overall economy.
But housing is not confined to our biggest city's and Even in those high prices being paid in some suburbs are not matched every place.
We are in for tighter credit, more for closures and that can not be avoided.
Our balance of payments? it is a time bomb ticking and we must confront it soon.