Australia: Boom to Bust: The Great Australian Credit and

Australia: Boom to Bust: The Great Australian Credit and Property Bubble

"How much longer can the China construction boom last?"

â€œAt the height of the Global Financial Crisis, the American banking system was too big to fail. Today, the Australian banking system is too big to save.â€

After almost 10 years living abroad, former strategy consultant and GreenRigCo co-founder Lindsay David returns to his native Australia. His years of macroeconomic research suggests that Australia is in the midst of one of the biggest credit and property bubbles in modern Western historyâ€”bubbles that are supported by the largest credit bubble in human history, the one that has been brewing in China.

Australia: Boom to Bust dives deeply into the plausible collapse of the â€œThree Pillarsâ€ of the Australian economy: Banks, Natural Resources and Real Estate. Lindsay David provides unique commentary on the true state of the Australian economy and identifies major defects in the structures of the Three Pillars. Toxic levels of private sector debt sponsored by Australia's largest banks has managed to flood already-inflated asset classes of the Pillars on the back of a once-in-a-lifetime construction boom and property bubble in China. Compelling data and research suggests that the Australian economy has lost touch with reality and has gambled away its banking system to propel the mining and property markets into unchartered waters.

â€‹Powerful Australian property and banking pundits have successfully led Australians to believe that the unusually high cost of real estate is justified. The pundits tell us that Australia is simply â€œdifferent.â€ Pundits love to use the word â€œboom,â€ but they rarely use the word â€œbust.â€ When a country as a whole and its cities lack density alongside a median house price that is more than six times the median household income, there is only one word that can describe the true state of the Australian property sectorâ€”bubble. The domestic banking sector in Australia learned absolutely nothing from past economic downturns in Japan, America, Spain and Ireland. Unfortunately, it will suffer the same sad fate that its northern-hemisphere peers did, as history has a good track record of repeating itself. The warnings signs of a toxic Australian credit bubble could not be any clearerâ€”they have simply been ignored.
Country USA
Author Lindsay David
Binding Kindle Edition
Format Kindle eBook
IsAdultProduct 0
NumberOfPages 228
PublicationDate 2014-04-06
ReleaseDate 2014-04-06

Country	USA
Author	Lindsay David
Binding	Kindle Edition
Format	Kindle eBook
IsAdultProduct	0
NumberOfPages	228
PublicationDate	2014-04-06
ReleaseDate	2014-04-06

Australia: Boom to Bust: The Great Australian Credit and Property Bubble

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