This is what the banks and the Government will use to prop up the banks when rates start to rise, as soon as the bank gets into trouble they will steal part of everyone's accounts. IMO this is why all this stuff is gelling at around the same time.
China
The property market is now correcting in China if not outright collapsing at the moment. This will have big flow on effects for Australia and the Coal and IO prices have dropped. This maybe just China stockpiling as it does once or twice a year to drive down prices or it could be that the building industry in China has stalled.
IMO this will hit the Australian property market via job losses in the miners and the many companies and businesses that service these miners. Not to mention Chinese buying may well evaporate. Government revenue will drop accordingly. Their have been violent protests in Hong Kong because big property companies just reduced their property prices by 25% or so and all the people that bought property are very angry. Will the same happen here, well I don't think it will get to that but it is coming our way soon.
This may not have a big impact in Australia but we are not immune to the Chinese economy going south like we are to the EU economy.
