"It is a very noble idea to pitch for the 2018 World Cup but it does start to appear we are being delivered a retinue of distractions from what is the main issue - an impending serious national economic crisis.

"Rents and repayments in the housing market of the western suburbs of the major eastern capitals have crystallised into an extremely serious issue for the working families of these regions. Far more important to them than prospective sporting spectacles.

"This crisis has been coming and should have been first observed when a loss of balance overtook the market. Animal spirits, as Keynes termed them, were given legitimacy by the economic pundits as they rationalised the ever increasing capital base of the market beyond the growth of the economic base of production.

"Then, there was the myth that we, as a nation, had somehow evolved to a state of splendid isolation from major economic issues in the US. Now, we still seem to believe the tail of the plane can stay in the air when the nose starts heading towards the ground.

"How there can be some congruency in the reality of globalisation with statements of isolation from key major economic disturbances is perplexing at the very least.

"Those who have extensive borrowings on mortgages, in an escalating interest rate environment, in a period of economic uncertainty, are in a very precarious position and our own mortgage meltdown is a period of less than a year away unless there is a major economic turnaround in the US and an interest rate turnaround in Australia.

"Mr Rudd and Mr Swan have their work cut out at home so should stop musing about soccer in 2018, something that in reality will go to Northern Asia or Europe, and get back to the more immediate problems in a suburb west of where they live today.