2020 dead cat bounce then Recession in Australia

Here is a YouTube video talking about the crumbling Australian economy. The Cash ban debates are still underway in the Senate at the moment. This journey of trying to start a consulting business has led me to find out the the current economic system of fractional reserve banking is not sustainable and is crumbling at a faster rate. Westpac was caught money laundering at a grand scale and that's not including the other crimes found on the other banks. The bulk of the Australian economy is property speculation plus foreign investment, overseas students coming to Australian universities and shipping rocks, raw materials or agriculture to other countries to sell. Doing this for many years has put our ECI index to be next to some 3rd world economies. Looking at the recent figures, our Economic Complexity Index is ranked 93 behind Senegal. We also have the highest household debt to income ratio in the world reaching over 200%. This is mainly caused by the overpriced housing prices forcing people into heavy mortgages.

The worst part of all this is that it is almost impossible to get out of this system. Since superannuation is compulsory, a good portion of your retirement savings is invested into Bank stocks to keep the banks running. For those people who think banks will be around when I am at retirement age, it's beggars belief. My prediction is mentioned in the title of this post. Either, I am ahead of the curve or delusional. There's no in-between. Thanks for reading this post.