Marc Faber Not optimistic about the Australian economy

MARC FABER : Correct. If there is a meaningful slow-down in China then obviously the Australian economy will suffer very badly. I happen to think that the Australian economy will suffer regardless because we have a very elevated property market that has become unaffordable for a large number of people and we have already some cracks in the property market. We have a very high household debt to GDP ratio. So I'm not optimistic about the Australian economy.- in abc.net.au