Warning Australia could set off global crash!
A stunning headline on Rupert Murdoch's news.com.au
on 19 March blared, "Australia could be 'first domino to fall'
in next GFC". Based on the analysis of economist John Adams, banking expert Martin North, and Irish financial expert
Eddie Hobbs, the article echoed what the Citizens Electoral
Council has warned for years: because Australia's banking
system is big enough to have a global impact, the brewing
crisis in Australia's banks from plunging house prices could
trigger defaults on their combined $38 trillion in derivatives
bets, many of which are with foreign counterparties, which
could set off a Lehman Brothers-style chain-reaction global meltdown (p. 3).
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Click here for more...
20th March, 2018
Yes, Australia could trigger next global financial crisis!
A stunning report on news.com.au has echoed what the Citizens Electoral Council has long warned: there is a growing threat that Australia could set off the next global banking meltdown.
Click here to go to “Australia could be ‘first domino to fall’ in next GFC”.
Under the headline “Australia could be ‘first domino to fall’ in next GFC”, Frank Chung, the finance editor at news.com.au, reported on the analysis of outspoken economist John Adams, who is known for warning of impending “economic Armageddon”; expert banking and real estate analyst Martin North, the principal of Digital Finance Analytics, who runs a detailed model of the housing market; and Irish financial expert Eddie Hobbs, who warned of, and lived through, the 2008 collapse of the Irish property bubble.
The article has sparked a furious backlash from establishment economists, which has led to John Adams accepting a challenge for a live television debate with financial economist and fund manager Christopher Joye.
(The debate is scheduled for Monday, 25 March at 7:30 PM on the Sky News channel 601 “Your Money” and free-to-air channel 95, and live-streamed online at https://www.yourmoney.com.au/watch/live/)
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