Precisely! Iron drops -> Aussie Dollar drops -> Inflation Increases -> Interest Rates rise -> Mortgage defaults -> Depression
Unfortunately Australia has been run by the smartest middle aged white men in the room for so long that we have lost most of our value-added export industries. I'm short of time now, but later on I'll try to produce a report to explain how Australia's dependence of negatively gearing loans on residential property not only doesn't help to maintain our international competitiveness, but actively makes us less competitive than foreign countries.
Basically we've shunned investing in new technology and innovation for the "safe bet" of just grabbing another investment property.
If iron ore drops enough, all our chickens will be heading home to roost.
Iron ore price, page-34853
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