Actually there's a pretty good book entitled" This Time Is Different" by Kenneth Rogoff & Carmen Reihhart.
Unless I'm missing something and that's not out of the question, Australia has effectively pinned its entire hopes on Chinese growth continuing which results in ongoing stong demand for our resources?
We have a multi-speed economy which features the resources sector in over-drive whilst manufacturing, retail, hospitality and tourism are all in serious decline. Granted there is a flow on effect from the resources sector but something has to give surely.
IMO our big four banks will be in all sorts of trouble if our resources sector is affected seriously. The flow-on from a downturn in this sector would have catstrophic consequences for our entire economy.
