Josh Sigurdson talks with author and economic analyst John Sneisen in Paso Robles California about the crash of the Australian housing markets across the board as the Reserve Bank of Australia decides on a potential rate cut and quantitative easing.
Australia’s Reserve Bank has for quite some time insinuated at the very least that rates would go up in the future. But recently, it appears they’re taking a page out of the Federal Reserve’s playbook, basically admitting that they’re in 2007 US housing market territory. The bank’s deputy governor Guy Debelle said further rate cuts were possible and that quantitative easing (QE) was possible in the near future. These comments were made a day after terrible GDP figures in Australia.
Banks and governments cause the problem in the first place and think they can solve it by creating more future problems. It’s absurd. The banks are bankrupt, the centralization leads to future struggles far worse than the original problems and it perpetuates forever. The answer comes down to NOT propping up a dead horse! Decentralize, be self sufficient, financially responsible, break free from the banking system and government. Be educated.