mid may 1000 point slide, page-12

I think it has reached the low point already this year. The market is trading around 2004 levels which is probably enough of a correction. People want to follow the USA and see what happens over there but I think the tide is changing and a new world order will come about. India and China will start to drive OZ in the future as they grow within themselves. If those two countries continue to grow there will be more than enough middle class to take over from where the US left off.
If you look back in history many civilisations have conquered and been conquered. This time around its not war that will do it, its economics. China as the "Bank Of USA" are effectively taking them over in peaceful means. They have lent them money to buy things that they can make cheaply. In effect they will become the slum lord of the USA. I don't know what the answer is for those in the US but history has shown that it won't be pretty. Germany 1930's, Russia 1919, France 1789-1799, Roman Empire, etc.
The difference for Australia is that as a Primary producer will still have what the Chinese want. Hence the TO of certain companies and the close ties between the Govt.