Borrowing heavily to spend beyond income and speculate on asset prices has been a global compulsion over the last 20 years. When banks and big corporations blow up on reckless risk-taking they’ve received bail-outs from governments funded by taxpayers and more debt. When households blow up there’s little help to offer and deep recessions tend to follow. Australia and Canada are facing similar challenges today for similar reasons, with no easy out in sight. This video report offers a good update on the Australian cycle and a heads up for Canada in 2019.
Down, down prices are down in the property market in Australia. Thousands of houses that should have sold last year are still unsold in early 2019. Here is a direct video link.
;
