Australia faces an unmitigated disaster in the housing market and, consequently, the banks. Every indicator in the housing market is suddenly very bad. What we are witnessing is shaping to be a bigger property crash than the 1890s depression. And like the 1890s land crash, when most Australian banks failed, the banks today are in deep trouble, from their massive exposure to mortgage lending and derivatives on that lending.
The response to Julian Assange’s plight from both Prime Minister Scott Morrison and Labor Leader Bill Shorten sadly identifies two weak leaders subservient to the military industrial complex and Anglo-American establishment. Any Australian leader with a conscience would condemn the unjust incarceration of Assange and his planned extradition to the United States.
Sensational information has surfaced that an Australian Treasury delegation travelled to Europe in February for discreet meetings with European countries on how they handled their banking crises.
Adams is forecasting that Australia’s huge debt bubble, built up by extreme property prices, is leading to “economic Armageddon”. Joye is the banking establishment’s darling, a former Goldman Sachs banker, Reserve Bank economist, and contributing editor to the banks’ self-promotional rag the Australian Financial Review, who was wheeled out to assure the viewers that everything is fine.
This release is taken from the editorial of the 6 March 2019 issue of the CEC’s Australian Alert Service magazine.
“What was that?” Great disasters start with that question. It’s being asked now about Suncorp’s unexpected 5 March announcement that repayments are in doubt on a $120 million mortgage bond.
