Yet the Australian real estate market is still in denial. The US housing market is in dire straits. The UK housing market has fallen for 7 straight months. As sure as night follows day it will happen here shortly.
Posted by: Gordon Hickley of Melbourne 4:30pm today
Got to love these comments. People thinking to worlds coming to an end and the US is talking themselves into a recession. Same thing happen last cycle in 02. I laugh every time I hear comments like sell your shares while you can and buy cash, cash is at a 15 year high, sell low buy high, I love it, please keep it up otherwise I wouldn't make money from you.
Posted by: Jim 4:26pm today
America for far too long has ignored economic fundamentals and the supply of foreign money is drying up. The pill they will have to swallow to rid of this economic decay will be a very bitter one. Devalue their currency to increase export competitiveness, adjust the Federal budget to get rid of the deficit, regulate money markets to separate commercial banks and investment banks.Address the importation of oil issue as it is on the big causes of the trade deficit by coal-oil conversion technology and alternatives.The longer this is allowed to go on the worse the situation becomes. It has gone beyond something purely market mechanisms will fix, the government will have to govern.
Posted by: Henri of Brisbane 4:20pm today
Think about when the banks really became powerful - during each time of economic crisis. Just wish I had some bank shares - particularly now that they own 110% of my house.
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