The RBA is recklessly ignoring the mortgage stress of households that were lured into mortgages to prop up the bubble; Australia needs a foreclosure moratorium now!
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!
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.
