Moody's issues alert over massive corporate debt on the horizon as corporate bond defaults in the US spreading worldwide. This may very start the economic collapse we have delayed by borrowing since 2009. Imagine if you dying of hunger 10 years ago and all you have been eating since then is chocolate how bad you would be.
Meanwhile Australian resentment and backlash against unscrupulous banking practices and APRA's incestuous relationship with them intensifies. Peaking with the #BailIn legislation sneaked through parliament early this year and the Royal Commission into the finance sector. Criminal charges are close.
Also the Glass-Steagall bill which is a proposal to separate commercial banking from investment banking gains momentum. This bill seeks to protect home owners from risking banking investments and if they go under no one loses their house.
With Australian households oweing 1.6 Trillion dollars we are completely at the mercy of foreign banks. Any protection by the RBA is unsustainable under such pressure.
How bad is it? Watch and see for yourself.
#EconomicCollapse #GlassSteagall #Economy #Politics #Banking #Finanace
