Josh Sigurdson talks with author and economic analyst John Sneisen about the imminent collapse of the Australian economy as the country drops interest rates.
This is major news as this tends to put a spotlight on Australia in the domino effect of the global economy.
With a housing bubble coming to its inevitable end across the country, while every other country is desperately attempting to bring interest rates up, Australia is dropping them and is signifying that there may be further drops in interest rates down the road as well according to the RBA.
Many countries tend to go the route of a cashless society following negative interest rates. Sweden is a great example!
In the United States and Canada as well as many other countries throughout the world, governments and central banks are desperately trying to bring interest rates up to avoid the inevitable negative interest rates of the future, especially with how low rates currently are and the panic in the global economy we’re feeling at the same time.
This will continue to go down hill until the inevitable happens. The more it is pushed off, the worse it will get. It must happen.