With the election charade out of the way, we can now see the truth about the economy in the actions of the economic authorities—it’s a full-blown emergency!
In April 2018, Prime Minister Malcolm Turnbull and Opposition Leader Bill Shorten rushed to back the US, British and French airstrikes on Syria for the alleged chemical weapons attack in Douma.
A stunning report on news.com.au has echoed what the Citizens Electoral Council has long warned: there is a growing threat that Australia could set off the next global banking meltdown.
The International Monetary Fund (IMF) is demanding that Australia move beyond the back door “bail-in” scheme passed last year, and enact a full, statutory bail-in regime that explicitly includes seizing deposits to prop up failing banks.
The government should direct the Auditor-General to conduct an independent audit of Australia’s Big Four banks, in light of the collapsing property bubble to which the major banks are massively exposed.
Treasury has now joined the central bank and bank regulator in urging the private banks to reopen the floodgates on mortgage lending to avert a housing bubble crash.
