AUSTRALIA HEADED FOR ‘ECONOMIC ARMAGEDDON’

>AUSTRALIA is headed for an “economic Armageddon”, with record household debt, record foreign debt and a massive housing bubble creating a perfect storm that could “wipe out” millions of families

>Worse still, Australia is particularly vulnerable because of significant structural imbalances, including record levels of household debt not seen since the lead up to the last great depression in the 1920s.

>“Millions of Australians are not only doing it tough through significant cost of living and debt serving pressures, but are at significant risk of being financially wiped out if an unanticipated adverse international economic shock were to hit Australia such as a new global financial crisis.”

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yourinvestmentpropertymag.com.au/news/chinas-crackdown-on-capital-outflows-could-hit-the-aussie-property-market-hard-231373.aspx
youtube.com/watch?v=7xUYbI64QHI
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Yes, cunt's fucked but you also have to realise the housing bubble is so bad here in Sydney that it could trigger another global financial crisis, it won't be some localised event that only effects Australia.

>Australia
>Mattering

>you also have to realise the housing bubble is so bad here in Sydney
Did everyone finally stop eating avocados or something? I thought the government was supposed to be limiting foreign investment. Is housing not included in that?

They'll be fine

I'm not sure about that, but there are record numbers of gooks buying up land and houses, the median house price in Sydney is now over $1m, it's out of control.

That's what happens when you're entire country is run by cucks.

This is why I hate chinks so fucking much, they're waging economic war on us and destroying us.

I am not too sure about that in this case man. If their economy goes into the shitter, there could be large repercussions here. We're not doing too hot ourselves and if the chinks get rattled from Oz taking a shit, they'll cut back on investments here.

good

Can you red pill me or give me a link to something that tells me why you guys hate the Chinese so much? I'm not going to find much searching MSM articles on (((Google))).

The chinks have basically relied on our iron ore for the last decade, and now we have none left, this is one of the reasons why China's economy has started to go down hill too.

They are literally buying our country out from underneath us. Obscene chunks of our real estate and farming lands belongs to foreigners now.

Mind you, it's smarter to hate our cuck governments who actually allowed this to happen even more.

They've bought up all our property and land and have ruined the housing market, of course this is also our government's fault for allowing them to buy up everything. Not to mention they smell like mothballs and spit everywhere, fucking filthy cunts.

This is just a hit piece. The Media and all their friends own property as a investment. The government is being squeezed to remove negative gearing which is the idea that if you property investment does not grow and is worth less than the year before you can claim that loss as a tax write off.
So the media says doom and gloom housing bubble and puts public pressure on middle class serfs and the proles to vote for the government party that won't touch negative gearing. Since in the investors mind is the bubble pops they can get a tax break and the government would just eat the loss. Obviously they won't. They'd just cut essential services and gut budgets and raise income taxes in the next budget and rake back the loss from the same people who had their market price face a free market adjustment ie a crash of house prices.
Tldr this is media manipulation to prolong tax breaks for house owners and prop the market up while the (((them))) move the property to China holdings and put their money in something less volatile and leave foreign investors and mom and pop with the bill.

Wonder how fucked would Australia get if the market actually crashed? Like, how bad truly would it get compared to what the quality of life is there now

Theu out number white people in Sydney and rich chinese investors mostly linoed to the Chinese govermnemt are buying up Australia's industry (huge chinese ownership in our agriculture) critical infrastructure (port of Darwin) and residential properties.

How can family owned aussie farms and aussie investors compete when billionaire chinese fucks are controlling our markets.

Yup, same thing happening in California. The chinese undermines and the jews brain-wash, it's a wonderful state.

>all those spelling errors

Fuck I hate posting from my phone

mr Wong gets lodes of dosh back home in 2nd China
doesnt want to let the commies get it
goes overseas and buys property to hide it
lets property sit doing nothing
locals now cant purchase land in own city

Ironically Chinese capital controls (to prevent non government currency devaluation) will do more to fix thr Sydney housing market than the Aus government

>cucked

Good. Fuck the baby boomers, the day of the rope is coming

Thanks for the responses. Hope you guys can do something about them.

Two of my friends, both in their early 30s, one is having a child with his wife, the other is about to get married, they both recent bought houses for over $1m, if the economy does go tits up they will be completely fucked.

Well it'll only be bad for those who fell for the memes in the first place. If you're living in your own house completely paid off or at least in a secure, stable job then you'll be right.

People who fall for the mining or housing investment meme deserve everything they get.

news.com.au is clickbait trash. I'm not saying this is fake news, but it's definitely exaggerated. We'll be ok for the most part.

The only thing that can be done is our government restricting foreign investment, but unfortunately they've trapped us in a corner where we have to rely on the money from foreign investment short term whilst it destroys us long term. Our politicians are corrupt as fuck and are being paid off by the Chinese too.

Fuck sake.

Even on 100k salary that's 10 years of wages before tax, expenses etc.

Is having a mortgage common in young adults over there? Seems like everyone jumps in on it as soon as they have a stable job and a spouse

its really easy for chinese and indians to immigrate into ur country.

u have to tighten the immigration rules for both of them. otherwise its only getting worse.

Don't you trust David Kosch with your life savings?

post more often

It's pretty much the only way to buy a house if you live in the main capital cities.

People cccooouuulld buy a decent rural house for cheap with a bit of saving but that would mean living outside our cosmopolitan society :^)

>he fell for the home ownership meme
>2017
>not living in a tent
Srs tho. I feel sorry for cunts with kids and shit that needed to buy, but all the people who are loaned up to the hilt in investment properties can go and fuck themselves, desu

BLM you fucking shithead.

Bogan Lives Matter.

we're all heading for this

This is peanuts compared to the coming chink housing crash, it will be a economic disaster of biblical proportions, and it nearly happened but the chinks managed to shut down the markets in time and enforce regulations, just a temporary solution to the impending doom.

Time to embrace anarcho-privitism or just end it all.

>This is just a hit piece.
You sure about that man? I was reading the other day about how a third of Aussie were struggling to pay their mortgage and were behind. That's not good.

With the rent prices nowadays soon people wont even be buying property or taking out mortgages

Can you recommend a better source? I would like to read more about this regularly from a reliable source. I have family there and I like to try to be informed.

>tfw lawyers and doctors will soon be living among bogans and refugees in public housing because everything else is too expensive

Alan Kohler, The Australian (newspaper), ABC, Financial Review, are our best sources. The Economist has written some good stuff on Australia too.

>Lawyers getting fucked

Feels good senpai, Lawyers are genuine scum of the earth

>t. Uni student with shit tonnes of Lawyer 'friends'

They still won't let the boats in cunt

god, let it burn. anyone that fell for the debt meme deserves it

Law is one of the most saturated fields in the country. We are fucked enough as it is.

>t. Law graduate who is currently working in retail

This thread sounds a lot like economic woes in Canada.

How's the Sydney Morning Herald?

Aren't house prices cooling down in Vancouver though? There's no end in sight here.

Not bad. They're left leaning, but their economics guru, Ross Gittins, is quite knowledgeable and has written some good articles.

Why is it that law students are such insufferable cunts? They're always holier-than-thou left wing hypocrites and just so fucking smug

Noo my vegemite.

Define "definitive"

fairfax rags are commie as fuck desu

Is there a Melbourne version or am I forced to see the same Lefty shit?

>There's no end in sight here.
China is instituting new capital controls, so that should help a bit.

> Under the new measures, an offshore investment by a state-owned enterprise in its core areas would be approved, such as a state-owned bank buying into an offshore bank. On the other hand, if a company was looking to make a very large offshore transaction or one outside its core business (such as a state-owned bank investing in mining), then authorities would take a much tougher approach to requests to take foreign exchange out of the country.
yourinvestmentpropertymag.com.au/news/chinas-crackdown-on-capital-outflows-could-hit-the-aussie-property-market-hard-231373.aspx

Law is very political, so it's to be expected. There are plenty of smug right-wing rugby boy types in law too.

The Age

You mean the Sydney Morning Hommosexual

>MFW Emus strike back and torpedo the Australian economy through economic manipulation

The Fin Review is Fairfax and still quite objective and balanced. It's only The Age and the S.M.H that have a leftist slant. Still not as bad as the Guardian, New Matilda, Buzzfeed etc.

>Extremely liberal nation
>Funny money that keeps increasing in digits and not value
>Selling to the chinese so that they can rape the nation shortly after; aka selling to the devil for a short term gain
>Laws keep getting tighter and freedoms keep diminishing

On the flip side, being a poor nation will make your citizens WOKE AS FUCK. Nothing gets men up in arms and taking action like a nation that's fucking up. Too bad Australia isn't alpha enough to see the tipping point and put a stop to it like the US of A.

I visited Australia last year and was stunned at how many Chinks there were. Sydney in particular is like a mini Hong Kong.

I'd take Pakis over Chinks any day. At least they have some exposure to British culture and are more likely to integrate.

>Extremely liberal nation
Not really. I'd say the average Australian is economically left wing but socially conservative.

...

Can you shoot a nigga for breaking into your home and taking you stuff?

No?

Point stands.

Is it all the gooks buying up property, like in parts of Canada?

Who cares?
>Quick, take in a bunch of Sharia law yearning, Western civilization hating, stupid, unskilled brown people that will destroy another white country ethnically and socially, the economy could use it!

The end game is miraculously the same, the problem is always different

Even better the only reason he has that dough is because the west collectively decided it was morally ok to use slave labor (actually cheaper then slaves since they are housed and shit in china) and fuck up China's environment (and the globes overall) to make an extra buck.
Even better the use of such cheap labor has had ramifications to even our technological advancement all that research that could have been put into Automation and R&D investment was put into relocating industry instead (similar to how the Romans never innovated with the steam engine since slaves were plentiful)

This

That's 100% bullshit.

>Australia is turning to a 3rd world country

Who will take me in as a refugee

New Zealand

I got family there so it's all good

I'll hide up in some globalist mountains while nuclear war happens

Why not just annex it?

youtube.com/watch?v=7xUYbI64QHI

Try Israel

>Be Australian
>Don't care

Apathy got us into this and it will get us out maybe

because as soon as i finish my course ill be on $150,000 a year, what about you tradie?

I will gladly welcome fellow anglos coming here as refugees. I will even let you live in my house if you need help. But I don't have a wife for you to fuck.
>tfw no gf

it'll be right mate

>moving money to China to protect financial assets
And I discarded everything you said.

There are more law degrees than law jobs.

Once you finish your course you'll probably be a secretary to an 70 year old Jew

>finish my course
>course

Confirmed for TAFE retard

kek agrees

Aussie msm reported couple weeks ago that Oz banks have been lending massive amount to Chinese based on fake income details. They lie about their income, banks pretend to believe the lies. Turnbull said he was going to do something about it and banks admitted guilt

Mfw got a job as a lawyer straight out of uni but my life sucks and I make crap money and I'm going to be more fucked than any tradie.

Best mate just bought a house
Other mate about to buy a house
Parents buying a 2nd house as rental property

Will be fucked if the economy goes tits up.

>tfw shit is going downhill with the libs supposedly being the better financial managers
>tfw labor will win in a landslide in the next election and just accelerate everything with careless sepending
>tfw by mid 2020s one nation comes from nowhere and forms government in coalition with bernadi

Because the right wing law students are smart enough not to say anything in public and work their way from the inside --> out.

dream on

Are you aware that law students here literally pay for a few years of internship? Law is utterly oversaturated, your best hope is knowing the right people or being prepared to move to Canberra to do bullshit in the public service.

You best be Top of your class, if you are even average, that's a massive pipedream.

t. ANU Law graduate who doesn't work in law.

And now we hear that Commonwealth has just broken a record for profits, what a coincidence.

Labor's not gonna win in a landslide, but the Liberals are absolutely fucked. We're gonna have one hell of a hung parliament.

Lawyer who graduated last year here, I'm basically a fascist but said nothing during my degree because the vast majority of the cohort is vapid young women who love socialism.

>government was supposed to be limiting foreign investment
>Australian government
>limiting foreign investment
>not deepthoating chinese investors to convince them to buy the whole county out from under the Australian people
My fucking sides

Ok so you faggots say the economy is fucked so what does that mean? I'm in a stable job and I wouldn't lose it. Parent company is Chinese and we print money. The mrs works in hotels and service jobs are the only thing keeping our shitty country going other than mining and yuppie cafes and restaurants, she'll be right too. What part of the economy being fucked is gonna be bad for me?

>Lawyer who graduated last year here
Why would you do that? The pay isn't even good any more because there's too many legal parasites already

>but that would mean living outside our cosmopolitan society :^)
No it means horrible commute time because we followed the American way of not investing in public transport

Labor will win the next election pretty easy. Most of the time its not governments who are voted in but governments voted out because people want change. Libs got in to start with promising to get the economy right and get rid of debt and they have failed to do both. They have nothing else going for them. Labor at least can promise the world, spending regardless of the consequences and champions of ((("progressive"))) social issues like gay marriage and feminism and shit. Libs have nothing to offer when their votes will be split with the half a dozen other conservative parties that exist now. Labor will win comfortably the next election. The idea of shorten as pm though is a fucking joke.

>$ tanks
>Everything that was already expensive is even more expensive

>less scabs
>restaurants become more exclusive
>people who are spending money are people who can actually afford to do so
I fail to see how this is a bad thing