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(01-02-2017, 03:51 PM)BlueKelah Wrote: Sounds like technical recession coming.. he must have some numbers to be coming out with this bearish talk..
coupled with Chinese unable to bring money in and defaulting on OTP apartments(yes ongoing in sydney /melb/Brisbane now.) Things not looking so rosy despite recent commodity rebound..
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Maybe this time you'd be finally right.
The clock is always right at least twice a day.
Sorry for 2 liners, can't help to counter-balance.
My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
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Cracks Are Appearing in Australia’s Trillion-Dollar Debt Pile
The Reserve Bank of Australia frequently seeks feedback on the health of the economy. It might want to call the debt counselors soon.
Homeowners, consumers and property investors around Australia are making more calls to financial helplines as three warning signs back up the spike in demand: mortgage arrears are creeping up, lenders’ bad debt provisions have increased and personal insolvencies are near an all-time high.
“Its steadily out of control -- I don’t know of too many financial counseling services where demand doesn’t exceed supply,” said Fiona Guthrie, chief executive officer of Financial Counselling Australia, who says the biggest increase in calls is from people suffering mortgage stress. “There are more people who have got mortgages that they can’t afford to pay.”
More details in
https://www.bloomberg.com/news/articles/...-debt-pile
Specuvestor: Asset - Business - Structure.
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