Personally I don't automatically think that the collapsing world financial markets will translate into a collapse in the economies of the world. Government policy has pretty much done that in a lot of places already.
I do see Banks taking another big hit because IMO they have been engaging in unsustainable derivatives and very marginal lending in the mortgage industry. Lets have the collapse and get back to a normal level instead of these artificially pumped up stock prices, prices that have been inflated by failed attempts by CBanks to keep the financial markets pumped up to all time highs. What kind of reckless behaviour by a CBanker is it when they keep financial markets artificially pumped up with free money. What kind of stupid thinking is this. They obviously expected the worlds economies to make a huge recovery whilst they kept the financial markets pumped up, perhaps they should consult real people in the real world occasionally and get a real opinion instead of trusting in talking heads behind big desks with economics diplomas on the wall.
I place the responsibility for the coming market crash squarely in the CBankers laps.
I place the coming property market problems in Australia on the RBA with their unbelievably low rates and still they refuse to raise them.
Can they get the BAIL-IN LAWS in force in time before the banks get hit????
