Australia’s economy is going down and under

[fahdforex]

Australia’s economy has enjoyed 26 years of growth but it’s about to come to an abrupt end. It will be triggered by the bursting of its property bubble and falling revenues from its main export commodities iron ore and coal

Australia recently recorded its 104th consecutive quarter of growth without a recession, breaking the record set by the Netherlands. It prompted Australia’s federal Treasurer Scott Morrison to claim that the economy was in “surprisingly good shape”. His statement is reminiscent of that old joke. How can you tell if a politician is lying? His lips are moving. 

Australia’s economy is not in good shape. Its growth has been built on demand for commodities like coal and steel from China and investment in an over-inflated property market. These dual dependencies are about to be brutally exposed. 

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