On the same day last week that the Australian Prudential Regulation Authority (APRA) chairman Wayne Byres claimed that the banks had passed stress tests conducted by the bank regulator in 2017, the Citizens Electoral Council’s Australian Alert
Former economic adviser to Australia’s coalition parties, John Adams, has continued to sound his warning of “economic Armageddon”, in news.com.au on 18 June.
The urgency of a Glass-Steagall separation of deposit-taking banks from dangerous speculation, is that it is necessary to protect Australians from a financial collapse.
The Big Lie of the Australian financial system is that it remained sound during the global financial crisis in 2008, due to the effective oversight of the Australian Prudential Regulation Authority (APRA).
Anyone still not convinced Australia’s property bubble is close to bursting should take note of a trifecta of recent warnings: forecasts of a major contraction in construction by industry insiders, a major reversal in international capital flows t
The REIA's figures, from a December 2007 survey, follow a JP Morgan/Fujitsu Consulting Mortgage Industry report which forecast 300,000 mortgage foreclosures across Australia this year.
