Stephen Miller writes in The Australian Financial Review:

Australia hasn’t had a recession for some 27 years. But through that time there has been a hardcore cabal of Aussie economy bears who have insisted that disaster was just around the corner.

There was a rich lode of material to draw upon in terms of potential shocks from overseas dragging the Australian economy down.

These ranged from the “tech wreck” to the global financial crisis, the European debt crisis, occasional Chinese “wobbles”, and the prospect of the domestic house price “bubble” bursting.

China and housing in particular have been the source of many a bearish prognostication going back more than a decade to a period prior to the financial crisis.

To read the article, click here.

To read Stephen’s white paper on this subject, click here.