OVER the past two years, Australian economist John Adams and others have been warning of a looming global crash, based on record levels of public and private debt, ultra-low interest rates, excessive public spending and a massive housing bubble, among other indicators.

This week, the former Coalition adviser outlined six possible scenarios for the future, depending on whether central banks continued to artificially prop up economies with “quantitative easing” money printing policies, or ended the post-GFC stimulus measures and began to raise interest rates.

While Mr Adams — whose concerns are being quietly acknowledged by a growing number of politicians — believes it’s now too late for government action, he argues there are a number of things ordinary Australians can do to prepare themselves.

By Frank Chung

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