Australian Senator: Contingency Plan Needed for Possible “Economic Armageddon”

December 11th, 2009

They’re talking about him like he’s some sort of conspiracy theorist blogger. *snort*

Via: Brisbane Times:

THE OPPOSITION finance spokesman, Barnaby Joyce, believes the United States government could default on its debt, triggering an ”economic Armageddon” which will make the recent global financial crisis pale into insignificance.

Senator Joyce said yesterday he did not mean to alarm the public but there needed to be a debate about Australia’s ”contingency plan” for a sovereign debt default by the US or even by a local state government.

”A default by the US means complete economic collapse around the world and the question we have got to ask ourselves is where are we in that,” Senator Joyce said.

His warning came as the Rudd Government ramped up its attack on Senator Joyce as an economic extremist by highlighting his strong opposition to Chinese sovereign investment in Australia.

Posted in Economy | Top Of Page

One Response to “Australian Senator: Contingency Plan Needed for Possible “Economic Armageddon””

  1. uranian Says:

    13 week T bill yields ended at a round 0.0000% a couple of days ago. Which happened just before round 1 of the crisis last year, then just before the Dubai default, then again a couple of days back. Least they’re not negative again eh? haha.

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