Are we truly free? Open your eyes and see what the world is really saying…
“blindin through mind control, stealing my eternal soul, appealing through material, to keep me as your slave…”
On Friday, Reserve Bank governor Glenn Stevens said the housing price boom in the decade to 2007 was “unusual” and was unlikely to re-emerge any time soon.
Today it is Westpac’s managing director, Gail Kelly singing the same tunes.
News Limited reported today :
In a closed session, Ms Kelly told business leaders that the years of compound growth in house prices were over for good.
She also said Australians were rejecting the high levels of debt that allowed them to borrow vast sums against the equity in their house.
Figures from the Reserve Bank of Australia show credit growth for housing continues to sit at the lowest rate since records started 35 years ago, supporting Kelly’s claim. January, February, March and April have all recorded annualised growth rates of just 5.3 per cent.
According to a McKinsey Global Institute report released last year titled “Debt and deleveraging: Uneven progress on the path to growth“, at 105 per cent of GDP Australia has some of the highest levels of household debt in the developed world.
» Westpac managing director Gail Kelly says compound growth in house prices are over for good – News Limited, 14th June 2012.
This entry was posted on Thursday, June 14th, 2012 at 7:43 pm and is filed under Australian economy, Australian Housing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
www.whocrashedtheeconomy.com – Original Article
June 14, 2012
It is with trepidation that I write to you….The Euro has collapsed unofficially. The money is OUT of Greece, Spain, Portugal, Ireland, Italy, France, Belgium and the German Elites have begun to shore up their wealth in hard assets and precious metals. RBS has given orders to close two of their major equities sectors, thousands of jobs are going to be lost the next few days/weeks. Credit Sussie has called on top investors to head to Swiss safe harbor and hard asset diversified portfolios.
The Capital Controls are in place to keep the charade of control going for the next four to six months before the official collapse. Steve…this is it. The Euro has collapsed and no one has noticed it. Greek bank runs are close to $3.5 Billion Euros per day not the $1 Billion that is being reported. The rest of the PIIGS are in the same boat. Bank Holiday imminent in all of continental Europe in the coming days and weeks. This is again theatrics to keep the plebeians believing in some semblance of control.
Please warn your listeners to pull out of their bank accounts everything that they need. Keep only to pay the day to day expenses. If they have land to go to, please do so now. Steve I do not know how much longer I can keep writing to you. You were knocked off line during your show with the Haggmans right before your were going to divulge what I have told you with the Spanish bailout. It is getting dangerous for all of now.
Again the Euro has collapsed…I repeat the Euro has collapsed. Unofficially.
May God Help Us All….
COPYRIGHT STEVE QUAYLE- ALL RIGHTS RESERVED—NO CROSS POSTING UNLESS ACTIVE HOT LINK TO MY SITE STEVEQUAYLE.COM IS PROVIDED
The reasons why Australia will NOT escape the global financial crisis