Commodities Crash could turn Australia into a new Greece.
Like WTF ?????
After intense research myself, to arrive at a United Kingdom problem – this shit hits the tabloid Telegaph in the U.K.
Lucky that they said ‘could’ . . . covering their arses.
Okay – read “UK is in trouble, Calm before the storm” – U.K. Telegraph should look in its own backyard before pointing fingers at other countries.
I am not promoting the ‘do not panic’ button, but Australia’s debt at 60 percent of GDP is manageable under the ‘current’ interest rate regime. The U.K. will hit the skids before Australia – the butterfly affect will take all countries with it.
Things will not get exciting before the end of September … THIS BLOODY YEAR …not next year – yes Australia is f#&ked – no question about that – due to the three largest trading partners having mild heart fibrillations (heart attacks to come later – then a long period of resuscitation) and all commodities are heading south.
Australia’s debt to GDP will rise steadily in the meantime – impact of declining commodity prices.
So word of warning – get your own house in order – when it hits it will take every country with it.
Just a matter of saving your own bacon – than the Banks.
No one government exempt – nothing will be exempt if you have debt.