so it turned out i was right, page-27

Ok lets clear all this up about the us, the subprime is only the beggining. This only the rain clouds, this will spread to the banking sector. The subprime has been affected first because it has the highest risk borrowers.
The same thing applies to australia, billions are tied up in the australian housing market its called low doc and no doc loans. I predicted this 4yrs ago. These low and no doc loan rates should increase and put pressure on borrowers. This will have a snow ball effect on and most likely collapse the australian housing market.
People cant afford to buy because rates are too high and they cant meet repayments because interest rates are too high. That is a stalemate situation and all I can see is housing prices dropping. People will sell shares because the need the extra cash, magin loans will collapse, cdfs will collapse the share maket crash and down she goes. I believe that it will be harder for small cap resource companies to raise cash in these conditions. The will be at the mercy of big players. stock will tumble to cent stock. If you disagree thats fine but I am rarely wrong, I have been waiting for this to happen for 12 months.