The Everything Bubble: Soon All the Bubbles are Going to Burst By James Reed

     I hope, like me, you love “happy” endings, because one seems to the coming our way, fast. In the video below, investor Mike Maloney reviews an awful number of articles about the coming global housing crisis bubble, which is set to bust, spraying misery and gore all over the place:
  https://www.youtube.com/watch?v=5ePmC87aiaw

     Here are some of the articles, if the economic gourmands so desire:
  https://www.marketwatch.com/story/existing-home-sales-tumble-as-supply-crunch-squeezes-hard-2018-05-24 
  https://www.afr.com/real-estate/residential/western-sydney-showing-early-signs-of-principalandinterest-transition-stress-20180712-h12l4m 
  https://www.zerohedge.com/news/2018-08-14/chart-day-australias-record-household-debt-ticking-time-bomb

“The Australian household debt to income ratio has ballooned to shocking levels over the past three decades as Sydney is ranked as one of the most overvalued cities in the world. According to the Daily Mail Australia, credit card bills, home mortgages, and personal loans now account for 189 percent of an average Australian household income, compared with just 60 percent in 1988, as Callus Thomas, Head of Research of Topdown Charts, demonstrates that record high household debt is a ticking time bomb: The average Australian credit card bill is roughly $3,272.70 as average income earners spend at least $2,000 a month on mortgage repayments, which has contributed to the affordability crisis, said the Daily Mail Australia. The average Australian holds about a $400,000 mortgage after they put down 20 percent deposit for a $500,000 property. The paper notes that the loan would barely buy a one-bedroom unit in most outer suburbs, as full-time workers take in about $82,000 salary per annum and spend an alarming 40 percent on mortgage repayments.

With household debt at crisis levels, CoreLogic said Australian home prices experienced their sharpest monthly drops in July since late 2011 as declines gathered momentum in Sydney and Melbourne (Sydney and Melbourne cover about 60 percent of Australia’s housing market by value and 40 percent by number). Nationally, the index of home prices dropped .60 percent in July from June, leading to an annual fall of 1.6 percent. The brunt of the slowdown has been most significant in Sydney, where values were lower 5.4 percent in the year to July, while Melbourne slid 0.5 percent. Home price declines were the sharpest in expensive regions, while the affordable housing segment of the market experienced less stress.”

     I am no economist, which is a good thing, because then I would have to hate myself, but it is clear that the writing is on the wall for Australia. For too long this country has been based on the immigration/housing/construction industry illusion that a nation can be sustainable by eating away the ecological, ethno-social and economic capital of the future. Australia’s only chance will be for a massive economic collapse so that maybe the evil electronic machines controlling the normie brain will be turned off long enough for these people to once more,  think. Here are some more articles on the coming economic crash, from mainstream publications; things are worse than we think, when the normie press speaks in terms of an “economic Armageddon”:
  https://www.news.com.au/finance/economy/australian-economy/how-to-prepare-for-economic-armageddon/news-story/08c0ab60e4184ee2d2f3e3d199a5a803
  https://www.news.com.au/finance/economy/australian-economy/six-path-ways-to-australias-economic-armageddon/news-story/5f11849237d1621569e85a9f2c2a1948
  https://www.macrobusiness.com.au/2018/04/protect-great-australian-crash/ 
  http://www.abc.net.au/news/2018-03-01/australias-zombie-economy-sleepwalking-into-danger-gfc-china/9492868 
  https://www.dailymail.co.uk/news/article-5979139/Finance-expert-warns-Australia-faces-massive-economic-crash.html

     We are all going to need to re-learn the economic survival strategies from the Great Depression era, as one of the above articles recommends.