There have been 3 per capita recession s since then. Recession in seasonally adjusted terms later
Per Capita Recession (Radio 2GB podcast with an Economist)
So Quantitative Easing is the path they`ll be following
More out of cycle rate hikes, highlighting how useless rate cuts could be
Lending to Households, Value of commitments - Trend
businessinsider.com.au/aust … rba-2019-3
March 14 2019
September 12 2007
independent.ie/au/opinion/e … 17311.html
Ooh, one more quote and I’ll be able to shout Housie for my warning signs bingo card!
https://thewest.com.au/business/property/more-wa-homeowners-struggle-to-repay-mortgage-reserve-bank-of-australia-monitors-threats-to-financial-system-ng-b881141719z that article shows the scale of the absolute insanity…just this bit explains it all…
The number of homeowners in Western Australia who are struggling to repay their mortgage is still rising, and the Reserve Bank is monitoring the situation for threats to the financial system.
The RBA says WA’s rising mortgage arrears rate – which is already the highest of any State – is not yet large enough to threaten the economy’s financial stability, but it is keeping a close eye on the situation.
Western Australia is 2.5 million people out of a population of 25 million
prices have ‘only’ dropped 18% there
so if that threatens the entire financial system, bearing in mind everywhere else rose while they crashed until a year ago when Sydney and Melbourne started falling too then when arrears rise in Sydney and Melbourne then the system is kaput
China stops allowing its’ citizens to move money out of China. A little while later, the housing markets where the Chinese people used to invest all their money such as Canada and Australia crash. Who could have seen that coming.
So that’s where they are in the cycle. Anyone remember the “edgy” property ads we had prior to our crash?
The names Bondi, James Bondi
Martin North (DFA): Under The Debt Volcano
I discuss how Ireland navigated their financial crisis a decade ago with Eddie Hobbs, the financial writer, adviser and. broadcaster, who lived through the crash and commented on the events in Ireland. He wrote and presented a programme on state broadcaster RTE entitled Rip-Off Republic in 2005.
I found that discussion with Eddie interesting
Thanks for posting this. It really is worth a listen. Some points made hit very close to home.