CHART OF THE DAY: One Huge Housing Bubble That's About To Pop

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In addition to all the ructions going on in Europe, this was the week that the world started getting acquainted with the precarious situation in Australia — a highly indebted country with full-on exposure to China.

Among the country’s problems? A massive housing bubble that hasn’t popped.

The following chart comes courtesy of Steve Keen’s Debtwatch, and it’s fairly self-explanatory.

See here for his full guide to the Aussie debt and banking crisis >

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