Australia’s reliance on foreign investment to prop up a dying mining boom is not making for a happy set of national accounts. Indeed, the housing bubble is almost certain to burst, and we’re basically already in a recession, writes Ian McAuley. The national accounts published last Wednesday showed GDP growth of 3.2 percent over the More

Source: The Bubble Will Burst: Incomes Are Down, Debt Is Growing, And We’re Basically In Recession – New Matilda