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As I just pointed to on another thread, gold in AUD broke out on Friday. We are headed for an imminent deep recession, likely beginning before year end, the signal has not yet triggered but will at any moment when the US 2 year and 10 year revert back to positive after going negative last year.
It is a signal that never fails.
The most worrying aspect isn't that we are going to get a recession. The most worrying fact is the type of recession that is being signaled, which will be inflationary, as both of the yields are rising, the problem is that the 10 year yield has recently begun rising much faster than the 2 year.
The housing market dare I say it, will be a catastrophe, as rates will rise and unemployment rises and working hours are reduced for those that keep a job Energy costs will rise as will food and services.

It can't possibly get any more dire consequences are families are swimming in mortgage debt and house prices are at least double what they should be.

Buckle up because Australia is about to repeat Japan's lost decade.