Share on Facebook Share on Twitter Share on Reddit + - Australian GDP fades as housing bust takes toll By Houses and Holes in Australian Economyat 11:31 am on December 5, 2018 | 5 comments The ABS is out with Q3 GDP and the news is weakness: Consumption weak at 0.3% the key. Housing bust! Previous boom revised down too. Bonds boom, AUD smashed. Much more to come. Share on Facebook Share on Twitter Share on Reddit + - YOU MAY ALSO BE INTERESTED INWestpac: "Very hard to see" jobs reaching RBA targetVia Westpac: An expected soft update but aYouth labour market deterioratesYesterday's ABS labour force release for JuneABS employment in detail: Turning pointAs summarised earlier, the Australian Bureau ofBlundell-Wignall: Houses and holes won't save usFrom University of Sydney adjunct professor Comments Bonza December 5, 2018 at 11:41 am It was better than I expected. This Quarter is definitely going to be negative. Sam18 December 5, 2018 at 11:54 am Well, this hardly a surprise to most rational people as the Australian GDP is linked to the housing Ponzi scam and exporting toxic coal. The days of liar loans, easy credit and insanely low interest rates have just begun to bite. The whole Aussie “boom” was a mirage and built on a house of cards by the greedy speculators who inflated home prices to astronomical levels.Both US and Australian casino economies are headed for a recession within 18 months and a mega fiscal meltdown. Caveat Emptor! Chris December 5, 2018 at 12:28 pm The breaks are on harder than anyone thinks, once the current credit crunch takes hold early next year and Australia finally has it’s liquidity event it should feed back on itself and collapse. Then we may see -ve immigration. DominicMEMBER December 5, 2018 at 9:38 pm You can only hope. Michael MatusikMEMBER December 5, 2018 at 1:04 pm The cash rate to fall by 0.5% in two cuts this side on May federal election!