THE future is going to be very bad.

It’s not a question of if or even when, but how. That’s the view of Australian economist John Adams, who says “economic armageddon” awaits us — we just don’t know what particular version it will take.

For the past two years, the former Coalition adviser has been sounding increasingly dire warnings about a looming global economic crisis in the face of record public and private debt, near-zero interest rates, excessive public spending and a massive housing bubble.

He first identified seven signs that the global economy was heading for a crash, later arguing the window for action had closed, before pointing out growing warning signs and highlighting a number of “myths” making us complacent to the danger.

By Frank Chung

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