In this video, I talk with author and economic analyst John Sneisen about the latest news out of Australia as the country's interest rates continue to fall as the everything bubble worldwide readies itself to pop.
A historic low of 1% interest rates has shaken the Australian economy. The chance of negative interest rates is essentially inevitable. Followed by their lowering of rates last month, the Federal Reserve started talking about doing the same leading to a rally in the price of gold as well as cryptocurrencies. Well, now Australia's interest rates have been lowered further and it's terrifying many following the economy.
This desperate move appears to be the last attempt by the RBA to prop up the already artificially propped up economy in Australia.
At the same time, the housing bubble continues to fall and many major cities in Australia are dealing with serious debt problems.
As our friend Stephen Kendal recently noted on our channel, we aren't heading for a crash, we're already in one. He calls it a "Ghost Crash." The economy and markets are simply just propped up in a sea of debt. What else could hold up a system built to fail?
See the FULL video report here:
We will continue to cover this extremely important issues as it develops further. Stay tuned for more from WAM! Don't forget to Upvote & Follow!
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