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Foreign investment dangers

Gough Whitlam's Childhood Home in Kew Given an Interim Protection Order Against Demolition

See update here. Yesterday, Thursday 23 October, was another turbulent day in pre-election Melbourne as the fate of the childhood home of Gough Whitlam at 46 Rowland Street Kew hung in the balance. We were under the impression that the demolition of the house would continue so I dressed in black and went to the site about 1 pm with flowers to leave on the fence and so pay a suitable tribute to Gough Whitlam. (I called up lots of people as the Leader Newspaper said they would send a photographer.) Imagine my shock at seeing a media scrum in the street outside the wire fence with more cars arriving all the time. (Included at the end of this article are the NFIRB's guidance notes on foreign investment in real estate.)

The irony of the Vietnam War versus the Australian Property Bubble

The Vietnam War led by the US spanned most of the 1960s through to 1975. The famous motto “All the way with LBJ” developed as a result of Australian PM Harold Holt’s commitment to military support of the US led War in collaboration with Lyndon Baines Johnson, the US President.

The conventional political wisdom at the time was that the North Vietnamese “Commos” were simply part of a larger Communist “Empire” led by Mao Tse Tung; the Chinese Communist revolutionary and founding father of the People's Republic of China, which he governed as Chairman of the Communist Party of China from its establishment in 1949 until his death in 1976.

The War was controversial and based partly on something called the “Domino Theory”, which meant that Australia was exposed to the threat of invasion by the Communist Chinese. Once the Commos took South Vietnam we were done for.

Today Australia faces the irony of an “invasion” by the Capitalist Chinese. Their money is invading Australia.

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