Here's What You Need To Know About The Major Property, Debt, And Banking Crisis Brewing In Australia

australia iron ore

Photo: leighton.com.au

Figured Australia would be safe from the rest of the world’s economic turmoil by hiding deep in the southern hemisphere? Not a chance. Its market and currency are tumbling due to a host of reasonsAnd according to this presentation from economist Steve Keen, courtesy of Mish’s Global Economic Analysis, a very serious bust is coming.

Like Greece, Spain, and Ireland, Australia has a fiscal crisis going on as well and its about to affect the banks, the currency, and the housing market of the Outback in general.

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