Australia’s economy is on the brink of a very tough time; for those with debt it will be a disaster.
Having kow-towed to the looney-left PC Brigade for so long, we are now The Lackey Country’. The accumulated capital of generations of hard-working Australians has been diverted away from the productive economy (you remember – that place where jobs and wealth used to be created), to dopey wind-power carbon reduction schemes, the men pretending to be women delusion, the feminist fantasy and schools and universities for the de-education of our young. A myriad other batty causes continue to line up with their grubby little hands outstretched.
Much of the capital has now gone. Not only has the asset side of the ledger been depleted, but, simultaneously, the debit side has gone to the moon.
The recession that must not be mentioned has hit the capital cities. It began on the periphery about three years ago, and has finally reached Sydney and Melbourne. Over the past week, I have received reports from two medium to large business operators in those cities confirming this. Both are experienced and savvy hands-on operators and report a sudden downturn in consumer spending. It would be reasonable to speculate that this could be because of the fall in people’s wealth as represented by their real estate. From greed to fear is a short and fast trip.
Much of the capital that was salted away in real estate ‘investments’ will be lost. That is not only due to the appalling building standards, but because the looming rise in unemployment is going to see a deluge of real estate, both residential and commercial, come cascading onto the market.
2019 and 2020 are when it will become obvious, even to the media, that The Lackey Country is about to pay a very heavy price for the decades of casual capital destruction.
Time to clutch cash Gold and silver and sit out the economy for a few generations.