Australia, drought & stupidity

Nice to know Britain's not unique in stupidity about elementary economics.

In the land of Oz, a report has just been issued presenting the current drought as - a business opportunity! Those few areas where there is a good water supply will become sought-after areas for houses! Money money money!

Areas such as Hobart, in Tasmania, and surprisingly Perth on the west coast.

Just one thing - to buy the new house, you usually sell the old house. Since that will be in a dry area, you'll have to sell it cheap, or not at all.

Seems the Ozzie press, like the British, is so dazzled by the idea of PROFIT that they lose all wisdom.

Source: Google News, Oz, various papers.