Mortgage stress now grips 42 per cent of Australian households, according to a UNSW City Futures Research Centre survey. This is a sharp increase from 30 per cent in February 2020.
KPMG wants to jail Australians who use cash—supposedly to combat the ‘black economy’—but the disreputable global accounting giant dominates the board of money-laundering machine Westpac.
Member for Kennedy Bob Katter has introduced an urgent bill into the Australian parliament directing the Commonwealth Auditor-General to conduct a thorough audit of the risks building up in the banking system.
Since the election in May, the Morrison government, Reserve Bank and Australian Prudential Regulation Authority have thrown everything and the kitchen sink at reversing the fall in house prices.
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!
