With the combination of a fairly diversified economy, government policies welcoming immigration, and a bevy of mineral reserves big enough to feed insatiable Chinese demand, Australia has avoided recession for a generation. Others noticed, and foreign money has spammed into the country to take advantage of the longest continuous period of economic growth in human history. That has turned the Great Down Under into the most overcredited of the Western countries to not yet experience a credit collapse. Credit has increased sixfold since 2000.
