Australia’s coming economic crisis – The Australian Business Executive | A Deeper Look at Business
July 27, 2018
Samuel Lawrie
The Australian economy is gravely ill.
Contrary to popular belief, Australia is suffering the most chronic economic structural imbalances in its history.
Record household debt of $2.34 trillion (especially relative to disposable income at over 190%), record high house prices (especially relative to disposable income), record net foreign debt over $AUD 1 trillion (or 57% of Australian Gross Domestic Product (GDP)) and household savings at a chronically low 2.1% (the lowest since December 2007) have dramatically increased systemic macroeconomic risk throughout the Australian economy.
