Fitch Ratings Lists Australia’s 50 Most Delinquent Regions

15 Jun

h/t MacroBusiness.

Does your area feature in the Top 50 list of regions with the highest rates of mortgage payment delinquency (click to enlarge):

Source: Fitch Ratings

Source: Fitch Ratings

Mortgage arrears rising.

House prices falling.

Recently downgraded banking system with $15 Trillion in Off-Balance Sheet “Business” (derivatives) versus only $2.66 Trillion in On-Balance Sheet “Assets” … 66% of which “assets” are actually loans.

Australia “almost certainly” in recession in 2nd half of 2011.  With eastern Australia already “in deep recession” and NSW/VIC manufacturing “stuffed”.

Warnings of a “perfect storm” of fiscal woe “by 2013 at the latest” from the man made famous for predicting the GFC.

Confirmation that the USA is defaulting on its debts (just as Barnaby warned in 2009).

Warnings that our biggest customer China is likely to experience a “hard landing”, with a 60% chance of the trigger being an internal banking crisis.

Warnings that China and our second biggest customer, Japan, are set to slow … or implode.

A blithering idiot RBA Governor who “does not know anyone” who predicted the GFC, but still in charge of setting interest rates. Having learned nothing from his screw up in raising rates into the teeth of the 2008 GFC.  And keen to raise them again.

Our banks being warned for even more reckless lower lending standards, in trying to keep their property bubble-fuelled ponzi scheme from collapsing.

And both major parties planning to steal our super to pay down ever-rising, all-time record public debt.

This is “How Australia Will Look When The SHTF”.

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