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- DescriptionHow much longer can the China construction boom last? At the height of the Global Financial Crisis, the American banking system was too big to fail. Today, the Australian banking system is too big to save. Australia: Boom to Bust dives deeply into the plausible collapse of the Three Pillars of the Australian ecomy: Banks, Natural Resources and Real Estate. Lindsay David provides unique commentary on the true state of the Australian ecomy and identifies major defects in the structures of the Three Pillars. Toxic levels of private sector debt sponsored by Australia's largest banks has managed to flood already-inflated asset classes of the Pillars on the back of a once-in-a-lifetime construction boom and property bubble in China. Compelling data and research suggests that the Australian ecomy has lost touch with reality and has gambled away its banking system to propel the mining and property markets into unchartered waters. Powerful Australian property and banking pundits have successfully led Australians to believe that the unusually high cost of real estate is justified. The pundits tell us that Australia is simply different. Pundits love to use the word boom, but they rarely use the word bust. When a country as a whole and its cities lack density alongside a median house price that is more than six times the median household income, there is only one word that can describe the true state of the Australian property sector-bubble. The domestic banking sector in Australia learned absolutely thing from past ecomic downturns in Japan, America, Spain and Ireland. Unfortunately, it will suffer the same sad fate that its rthern-hemisphere peers did, as history has a good track record of repeating itself. The warnings signs of a toxic Australian credit bubble could t be any clearer-they have simply been igred.
- Author BiographyLindsay David is a co-founder of clean technology company GreenRigCo and a former strategy & business development consultant. Lindsay holds an MBA from IMD Business School.
- Author(s)Lindsay David,MR Lindsay David
- Date of Publication13/04/2014
- FormatPaperback / softback
- SubjectEconomics: Professional & General
- Country of PublicationUnited States
- Content Noteblack & white illustrations
- Weight308 g
- Width152 mm
- Height229 mm
- Spine12 mm
- Format DetailsTrade paperback (US),Unsewn / adhesive bound
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