Australia Six Weeks From a Housing Collapse, US Report Warns

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Australia Six Weeks From a Housing Collapse, US Report Warns

In an article titled “Australia Risks Strategic Setback From a Significant Foreign Direct Investment Drop Due to Changes in Bank Policies”, the Washington-based International Strategic Studies Association warns that Australia “may be entering a significant phase of its economic-strategic development”.

It argues “changes in local banking policies” could see foreign direct investment in the property sector “decline markedly”. “This will profoundly impact the Australian government’s ability to fund major programs in the defence and civil sectors,” it said.

The article is contained in the ISSA’s latest Global Information System newsletter, described as a “strategic intelligence service for use only by governments”.

“The Royal Australian Navy’s submarine acquisition program, budgeted at $50 billion, may be the first major defence casualty,” the article said.

“However, the government itself seems unaware that the anticipatory caution on the part of Australian banks may accelerate a decline in the Australian economy.”

More here…

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