shakes his head, here we have 7 of the top 10 banks looking to insolvent and may in fact go to the wall
the economy is slowing considerably and violently
Australain home prices are amonst the most expesive in the world and could have the most to fall
we have ABC , Babcock, AFG , there is to many to listad
we have the monoline insurers likely to fail
but the worst is over?
all folks can add is slogans like"back up the truck" , "the bear market in financials is over", "rate cuts will save the day"
folks your have not really clocked it yet, this is probably the worst credit crisis in history and its only about 50% of the way through
IMO its time to park the truck in the garage, sit on ones hands and wait for the value to arrive, today prices arent value they reflect a dodgy bank half way through the journey to hell
it could get allot worse yet
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