"2. Australia will need to raise rates and this could result in...

"2. Australia will need to raise rates and this could result in rates passing 8% and create a liquidity crisis. "

When you say "could result in rates passing 8% " what rates are you referring to here? It's not the overnight cash rate is it?

Also, What does a "liquidity crisis" mean?

This list contains (IMO) some pretty extreme views, so just want to clarify some of the points you're making so I can understand the viewpoint and see if I agree.