Lend Lease LLC, page-57

There are serious liquidity issues within the Australian economy that have been fed by corruption within the banking, regulatory and real estate sectors of the economy. The consumer sector of the economy is horribly over-indebted and some reports put about 1,000,000 families in mortgage stress, with about 9% of that number are now so late on mortgage payments that they are approaching foreclosure in calendar 2019.

The Opal Tower fiasco has exposed the fast and loose nature of government (non) regulation in New South Wales. The federal situation is even worse, with constant instability in leadership feeding into very poor policy decisions. This has led to a rolling collapse of the A$ which recently hit 66 cents. Most of the "blue chip" stocks that form the back bone of the economy are being dumped. Look at stuff like Adelaide Brighton and CSR as examples. The consumer has been heavily overtaxed and is completely tapped-out. Look at stuff like Metcash and Myers which keep rolling lower and lower. 

AND all of this is happening in an environment of very low rates, not the 15% rates that existed in the 1980's. My sense is that the "Lucky Country" has run out of luck and must pay the piper. 

Trump is locked into a long term IP war with China that will not resolve itself. The trade issues will not resolves themselve in this environment.He is now going after Huawei (major global Chinese tech that is an extension of the Chinese government surveillance state) for IP theft. This is long term bearish for the A$, so expect to see more liquidation of ASX listed blue chips and collapse of A$ asset values.