You may think Liquidator’s are a pessimistic lot but a former government guru says there are 7 signs Australia is on the edge of economic Armageddon and it’s too late to change course.

The signs, he says, are:

1. Tightening monetary policy
2. Inverted and flattening yield curves
3. Sovereign and corporate defaults
4. Falling confidence and credit downgrades
5. Emerging Chinese Credit Crisis
6. Significant Growth in Value of Crypto Currencies
7. Discredited Australian Fiscal and Monetary Policy

Adams says he has for years been publicly and privately urging his erstwhile colleagues in the Coalition to take action but that since nothing has been done, the window has now closed and Australia is completely at the mercy of international forces.

“Unfortunately, the window for taking pre-emptive action with an orderly unwinding of structural macroeconomic imbalances has now closed.”

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Source: www.news.com.au