Australia is now free-falling into the deep depression that the CEC has warned about for 15 years, and tried to prepare people for in the 2001 book, What Australia Must Do to Survive the Depression.
Access Economics has declared “the budget is buggered”, and predicts this year the Australian economy will suffer its sharpest contraction in history, on the back of the collapse of China.
Another economist, Ed Shann, has calculated our national export income from iron ore and coal will fall by $30 billion this year, after China renegotiates its contracts in April; the per capita income of Australians will collapse by 7 per cent.
And for most readers of this news service, unemployment is looming as the big issue—BHP’s announcement yesterday of 3,400 job cuts is just the beginning.
The CEC knew this was coming, because of its association with the world’s most accurate economic forecaster, U.S. statesman Lyndon LaRouche.
Tune in tomorrow (5am AEDT live, archived shortly thereafter) to watch or hear LaRouche’s latest webcast in which LaRouche will spell out what U.S. President Barack Obama needs to do immediately, to reverse this collapse, and put the world economy on the road to recovery.
This will be essential viewing for all Australians, in order to understand what we must insist our government support, so our nation can survive. The webcast can be viewed at www.larouchepac.com.
For historical background on how the financial crash came about, click here to receive a complimentary copy of the DVD, 1932.
Click here to join the CEC as a member.
Click here to refer others to receive regular email updates from the Citizens Electoral Council of Australia.
