GLOBAL ECONOMIC CATASTROPHE: Australia Falls Into Recession, Nigeria Goes The Way Of Venezuela

by | Mar 6, 2019 | Headline News | 39 comments

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    Australia has fallen into what is known as a “per capita recession.”  That means the country is relying solely on population growth to propel its economy.  All this is happening as Nigeria follows the same path to becoming Venezuela.

    The dollar dropped sharply to a two-month low of $0.70 by midday as economists slashed their predictions for official interest rates to reach a record low of 1 percent by September, according to The Sydney Morning Herald. The per capita recession is raising questions about the government’s management of the economy ahead of the federal elections.

    Prime Minister Scott Morrison has repeatedly said economic growth will be weaker under Labor, but the final two results of this term of government show the Coalition will lead Australia back to the polls struggling to lift a slowing economy.  Many economic experts believe that this next global recession will allow the public to open their eyes about the reality of government and central banks: that they work together to enslave the masses while lining politicians’ pockets with money stolen from the slaves (general population.)

    On top of this potential nightmare scenario is the fact that governments around the world comprising the largest economies have nearly all become debtor nations that are one economic calamity away from global collapse.

    As noted by Robert Gore at The Burning Platform blog, France’s Yellow Vest protesters may have inadvertently hit upon a way to bring about the collapse of the fiat money and debt system that is sustaining the very governments which increasingly suppress the people they are supposed to serve. -JD Heyes, Natural News

    As we march toward the ultimate collapse, Nigeria is likely about to be tossed into a similar economic situation as Venezuela. Nigeria’s GDP has been in a sharp decline for the best part of four years, and in just the past year, it has again fallen behind South Africa as the continent’s largest economy. During his campaign, Nigeria’s newly re-elected president, Muhammadu Buhari has glorified poverty and vilified success. According to the Telegraph UKNigeria is estimated to have lost about a tenth of its wealthier citizens to emigration in recent years. Its brightest and best have been voting with the feet in ruinous numbers, and those include doctors, nurses, engineers, accountants, entrepreneurs, lawyers and so on. Success and wealth are routinely demonized by the Buhari regime.

    This is all too familiar to Nicolas Maduro’s plans for socialism in Venezuela.  Complete government control will always end in failure as people realize their lives are being controlled and they are being enslaved by the very people they voted to do just that. Humans are not meant to be controlled, and with the next global economic depression on the horizon, hopefully, more will figure this all out before it’s too late.



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      1. I can hear the huge outpouring of sympathy for Nigeria coming any second now …

        • Sorry to interrupt the thread; but I have figured out how to stop global warming. CHEAP AND ENVIRONMENTALLY SOUND. Take all the reports on it, turn them whiteside up spread, them all over Arizona and surrounding states. using native rocks to hold the corners. This should reflect enough sunlight to cool the whole planet. SHOULD i GET A NOBEL PRIZE?

          • I think my idea is better. Give Beano to all the cows. That will take care of all the cow farts and may even plummet the world into a new ice age. The Nobel will go to me for sure.

          • Paranoid, if we could eliminate politicians and all the hot air they blow that should help, LOL.

        • The problem with Nigeria is there are too many blacks. If they would just die off it may become a rather nice place.

          • Great idea Beaver
            Just get rid of the blacks and let the whites take over. The same ones who have murdered over 100,000,000 people in the past hundred years. The ones who have nuked two cities, invaded and destroyed so many nations it’s hard to keep count. The same one my taxes have paid for to invade and destroy almost as many countries since 9-11 as Hitler did during WWII. Those same whites that now have over three-thousand hydrogen bombs aimed at each other with a very short “fuse” and, every day, threaten to blow planet earth to radio-active dust. Actually, the planet would probably be a whole safer and peaceful if the white race, you love s, would vanish and never come back.

        • Australia is the canary in the coal mine for China. The drop in its economy reflects the downward spiral occuring in the Chinese economy. 🙂

      2. Like Venezuela, if Nigeria’s GDP was based upon the exporting of coconuts the plight of their citizenry would not be of any concern.

      3. Waaaah!

      4. What do Australia, Nigeria and Venezuela have in common?

        Their incomes are nearly all derived from exporting energy resources. In the case of Australia it is coal. The other two it is crude oil. When the price on these commodities crashes, so do their economies. The price of oil has tanked since 2014 and, in Australia’s case, China was their main buyer of coal. They have cut way back on the purchase of thermal coal and this has had detrimental effects on the economy.

        It’s called “The Resource Curse”.

        • Actually it is worse than that, something like 85% of our exports come from the farm and the mine.
          We are hostages to the entire world economy.

      5. ‘Socialism is a big lie”
        Yes, But that is what Democrats do very well – Lie
        I pray that rationale mature American see this hard left turn by the Democrats for what it is.

        • Jakartaman
          Good of you to point out, for us, what Democrats are so good at. As far back as I can remember, single people have complained that they were required to pay taxes to educate other people’s children. That of course, is known as “Socialism”…everybody paying for the benefit of a few. Come to think of it, your fire department is a Socialist organization…everybody pays and only some benefit. As well as the police department, public libraries, most city streets, garbage collection, child vaccinations…actually, if it weren’t for the socialist programs in this nation you and your kids probably wouldn’t last long. Just consider how much you and each of your neighbors would have chip-in to cover the several million dollars a small local fire department costs. You and the rest of the American public should redefine your terms and then decide what kind of country you really want to live in.

          • Rocky Mountain Nancy paying for K-12 education, fire and police service benefit everyone. After all – your house could be the one on fire or being burglarized. A basic K-12 education benefits everyone as well because it helps ensure those people will be productive citizens. And most all of us benefit from city streets and have no objection to paying for them. Garbage collection is another matter. Homeowners pay their own fees for that service. But we have reason to object when we are forced to pay for things that don’t directly benefit us such as the medical bills of people that can’t or won’t pay for their own insurance, utility bills, Obamaphones, college tuition, transportation, prison for illegal immigrants, etc. People are leaving California in droves because of the tax burden imposed by policies of people like you. There is an old expression – pigs get fed, hogs get slaughtered. You are a hog and your generosity with money that you didn’t earn is coming to an end.

            • Bilge Pump,
              It’s classic that you defend those socialist programs that you consider beneficial to yourself but criticize those socialist programs that don’t benefit you. It’s interesting that the recent California fires illustrate this issue. Many multi-million-dollar mansions in Malibu were saved by home-owner’s contracts with private fire departments…paid for by subscription, while thousands of homes “protected” by the public-funded, socialist fire departments, burned to the ground. You might also investigate Warren v. District of Columbia court decision that your local police department has no obligation…ZERO…to come to your aid in an emergency. That function, know as “police protection” is defined as “protecting the public good” and not protecting an individual…including you, personally. That court decision has been repeated numerous times around the country. If you want “personal” protection, you are free to hire that service, or carry a weapon, as provided by the 2nd Amendment. I’m am not an advocate of “socialism” as you gave me credit for, I am merely pointing out the discrepancy between what we Americans have in this nation and what we think we have, which are very different and we should know the difference before we start mouthing off about it.

              • P.S. Bilge Pump,
                Garbage collection, where I live, is a tax. I have been paying for “garbage collection” at my home for over thirty-five years and, so far, have never, ever seen a garbage truck. That fee, allows me to drive nearly 100 miles to the nearest dump with my own trash. Thanks anyway for your support!

      6. Don’t put all your eggs in one basket should apply to Nations as well as individuals. If one source of income tanks there is another and another. Remember that when you prep. Have a backup plan, extras on necessities. Too much sugar is unhealthy but sugar lasts forever so if you can only store a minimal amount than store sugars, salt, and spices.

        Pepper and turmeric for inflammation and pain, cinnamon to lower sugar levels in the body. Parsley is considered a nutrient rich vegetable as well as a flavor enhancer. Garlic powder and onion powder are both important nutrients as well as flavor enhancers, as is oregano.


        • HPot,
          Agreed about never putting all your eggs in one basket, but most countries aren’t all that rich in resources. Having an intelligent population is also a resource. Nigeria is really short on those, remember Biafra? Moslems vs Christians.
          Christians lost and the larger Moslem population largely eliminated them. Historically Moslems aren’t too bright.

          Australia only has ~26 million people and over half of them are stark raving socialists. What do you expect?

          About sugar, I use honey as it stores forever, sugar doesn’t seem to do as well. How do you store your sugar to make it last?

          • “remember Biafra?”…..Roland the Headless Thompson Gunner does ! (vague Warren Zevon Reference for the youthful readers). My apologies, the Biafra quote made me think of Roland, Van Owen and Patty Hearst hahaha

          • To store sugar forever, do the opposite of what people recommend for most stuff. Don’t put it in a cool spot. put it up in the attic where it’s a zillion degrees, so hot you cannot stand it. Just so it’s dry. Use the big old steel cans like lard or potato chips come in. Have some over 30 years old, still fine.

            • Para,
              I’ll try it! I have no lack of hot places to store things.

          • rellik ~ Just fill glass jars right up to the brim (to minimize the amount of air in the jar) and screw on the lid tightly. There will still be a tiny amount of air between the sugar crystals; but if you open the jar in a few decades and the sugar is lumpy, shake the jar a bit or chop up the lumps with a table-knife, and the sugar will be fine.

            Perhaps even more important than sugar is storing large amounts of canning salt. (Same storage method — if you like, insert a desiccant pack in each jar. It’s best to pack such substances during the winter, when the air tends to be quite dry; this will further reduce the moisture in the small bit of air in the jars.)

            Canning salt is more pure than ordinary table salt, which is not pure enough for good canning results. In a long term crisis, canning salt will be virtually priceless. (Iodized salt does not store well; don’t buy more than you’ll use during the next six months or so.)

            The food items of top value during Colonial days are enlightening; luxuries that originated from far away were so valuable that they were kept under lock and key in the homes that could afford them: salt; spices from afar; sugar; coffee; tea.

            (While salt could be obtained here in North America, large deposits were seldom found on the eastern seaboard, and obtaining commercial quantities of salt usually involved significant time, labor, and travel.)

            It is also worthwhile to read accounts of WWII rationing; many of the items that were most sought-after then would be equally desirable under adverse conditions in the future.

            I will parenthetically add that solar battery chargers, and an ample supply of top-quality rechargeable batteries, should not be overlooked. Not only will these be tremendously useful to the owner; but they could be rented out (with a hefty deposit: for instance, a .45 –to insure their return after the rental period is up).

            Many scientific and medical devices run on batteries. Flashlights and headlamps can save lives in rescue situations. Parents might will willing to fork over darn near anything so their frightened children can find comfort in their favorite video game for an hour or two.

            People these days are literally addicted to electronics, especially their phones. Even if communications systems are down, people will want to keep trying to contact friends and relatives. Plus, many people have reams of valuable information stored on their phones. Anyone who has a solar phone charger will be able to name his own price for charging up somebody’s cell phone.


            Batteries are sort of off-topic here, but I feel that in a crisis –especially a lengthy one– they will become phenomenally valuable. (My 2¢ worth: get Ray-o-vac rechargeables. The Energizer rechargeable batteries that I bought were crap; those folks apparently spend all their money on advertising. Get ‘smart’ chargers that analyze what the battery needs, not a ‘dumb’ charger that merely transmits current for a fixed time –usually 8 hours.) ~ KV

      7. If the Aussies legalized weed, hash and prostitution things might turn around.

        • MEN NOT AT WORK

          Traveling in a fried-out combie
          On a hippie trail, head full of zombie
          I met a strange lady, she made me nervous
          She took me in and gave me breakfast
          And she said
          Do you come from a land down under?
          Where women glow and men plunder?
          Can’t you hear, can’t you hear the thunder?
          You better run, you better take cover

        • weed is decriminalised in South Australia and I think the ACT. The latter may fully legalise it soon. Prostitution is legal in all jurisdictions.
          I don’t think either is good for people or society but hooking is quite profitable as a solo operator, if risky. Weed was also profitable in the 1990s, but the margins not that high now. That stuff can seriously wreck your life.
          I knew a circle of pot smokers going through university. Occasional smokers stopped in their 20s. Of the regular smokers, some dropped out, some went mad and some of those never recovered, one is dead, I think only one regular user ever achieved his potential.

      8. Rellik, I mostly use honey as sugar. I like 100% maple syrup. And I also keep some cane sugar and even brown sugar, which requires both a moisture absorber and oxygen absorbers. I have a system of food-grade buckets, air-tight canisters, and small jars.


      9. My goodness this comes as quite a shock that Nigeria of all places is facing economic collapse. I personally know though of a certain former Prince of that country who died and left me several million dollars that should be arriving here soon. Hmmm, should I feel guilty and send it back when it arrives?

      10. The biggest threat to the American economy is the Coup being tried by the D’s, the spread of Communism from Commiefornia/New Mexico, and the Green Raw Deal.

        This fight has ben going on for my whole life and continues as the infiltration grows. Every anti-communist president we have had, Nixon, Reagan, and Trump has been attacked without mercy.

        If you want to know what America’s future is, ask the starving people of Venezuela and the Refugees from all the other Communist hell holes.

        God and Guns will save The Republic!

        • Why do you want to save Lincoln’s Republic? Surely you realize that we clearly have “a DESIGN to reduce us under absolute Despotism”.

      11. Yep communism & socialism have never worked. They are based on the Fair Share doctorine. If someone achieves success the are them deemed to have more than their fair share. and their wealth is unfairly taxed and redistributed to those who had ought naught to do with it. Eventually everyone tries to game the system and they run out of other folks money. The USA socialist had long ago ran out of other folks money to tax and redistribute. So they make up the shortfall with borrowed money. 22 trillion and fast accelerating. and the military must enforce the use of the Petro Dollar.

        • If Trumps does not get re-elected, the America we know is gone forever. I’m not a big picture guy, I just can’t/won’t stand by to see we average people crushed and exploited by evil/Godless Communist gangs of filthy animals.

          • did you see the resolution congress passed today 400 to 30? Federal government is occupied and all forms of hate were condemned except hate for whites. The USA you knew is not coming back and it looks like there will be a hot fight at some point to stop outright genocide.

        • Old Guy, good points. And just who the hell is anyone to tell me what my “fair share” ought to be? Those people can go f#$% themselves. I work for what I want and need. No one owes me shit and I don’t owe anyone shit.

      12. “per capita recession”?
        Never heard the term before!
        Are they changing the criteria to generate a new media beat up?
        …or did they use the ‘Betoota Advocate’ as the source of their information?

        • It is some Socialist invention. It seems that if your GDP stays flat and your population increases that is a per capita recession. It implies the new people aren’t producing anything. Meaning there is less available for the group. Normally recession is tied to reduction in spending and increased prices resulting in no or negative growth.
          I could be wrong.

      13. Nigeria’s radical islamist government has always encouraged the persecution—including murder, kidnapping, and enslavement—of the Christian Igbo people. The Igbo are the smartest and most productive of all Africans. As they flee the murderous thugs in ever-increasing numbers, Nigeria’s “intellectual capital” sinks to ZERO!

      14. If Nigeria becomes Venezuela, that would be an improvement.

        Just saying.

      15. When Nigeria was mentioned, all I could think of was all of the scams that come out of there. I thought they had already gone belly up.

      16. I do not ever take anything this writer presents seriously. Never!

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