If you watch the Adams/North youtube vids, things will be pretty bad.
The Australian and NZ debt bubbles are the highest on record.
John Adams who consults our MP's regularly, was told by an MP this week that when "it" happens, the govt will claim plausible deniability.
This basically confirms to me that no govt really cares much beyond their next election.
In the minutes this week from our big four overseers (Reserve Bank, ASIC, APRA and Treasury), they feel it's best to relax money lending as borrowing has slowed! The exact same spending which has caused this bubble in the first place.
Record low interest rates, mums and dads borrowing 5 -6 time debt to income ratios...
Our economy will implode sometime in 2019/2020 guaranteed.
There's 1.36 trillion dollars in interest only loans which will revert to interest and principle starting next year.
The majority of these people won't be able to refinance and they won't be able to service the new monthly amount.
With home prices falling big time, most will be in negative equity, which means why even bother trying to pay the property off.
This is the ONLY reason I'm selling my house early next year, before a complete collapse.
My biggest fear of course will be the bank bail ins when it happens. No-one's money is safe in the banks anymore. It's in legislation for every country in the world. They will take what they need. Cypress was the model future bail ins will be based on.
The Australian and NZ debt bubbles are the highest on record.
John Adams who consults our MP's regularly, was told by an MP this week that when "it" happens, the govt will claim plausible deniability.
This basically confirms to me that no govt really cares much beyond their next election.
In the minutes this week from our big four overseers (Reserve Bank, ASIC, APRA and Treasury), they feel it's best to relax money lending as borrowing has slowed! The exact same spending which has caused this bubble in the first place.
Record low interest rates, mums and dads borrowing 5 -6 time debt to income ratios...
Our economy will implode sometime in 2019/2020 guaranteed.
There's 1.36 trillion dollars in interest only loans which will revert to interest and principle starting next year.
The majority of these people won't be able to refinance and they won't be able to service the new monthly amount.
With home prices falling big time, most will be in negative equity, which means why even bother trying to pay the property off.
This is the ONLY reason I'm selling my house early next year, before a complete collapse.
My biggest fear of course will be the bank bail ins when it happens. No-one's money is safe in the banks anymore. It's in legislation for every country in the world. They will take what they need. Cypress was the model future bail ins will be based on.
No God, No fear.
Know God, Know fear.
Know God, Know fear.
