"I agree keen is wrong, housing will not crash from unemployment. Housing is going to crash when the mass's of property investors all try and exit through the door all at the same time."
if its not one thing, its another, and another and another
the overseas experts have been burnt, burnt big time
be sure to watch inside business this week...
Aussie banks have burnt the hedge fund "expert" shorts last few weeks to pieces.
even the local -40% experts are retracting, Minack has backed down, Keen has walked.
and Aussie about to go into growth territory like we've never seen.
I'm glad to have aussie dollars and aussie assets, couldn't be in a better place in the world right now.
heres the quote:
"I interviewed Clifford Bennett of Herston Economics in Sydney yesterday for Inside Business tomorrow, and came away feeling all fired up. He was once rated by Bloomberg as the world's most accurate currency forecaster, and he certainly has been getting the Australian dollar right lately. He also picked the bottom of the market last March.
Anyway, he reckons the Aussie dollar is going to parity and beyond and that gold is going to $US1450 an ounce. This is not because of the declining US dollar and the prospect of QE, but because Australia is the new Saudi Arabia and the two countries that like gold the most India and China also happen to be the fastest-growing. It all comes down to the same thing really: China (India seems to have a few problems at the minute).
Clifford says Australia is in for several years of sustained very strong growth and the big problem is going to be how to spend all the money we make. Australia, he says, is going to be a very wealthy country and the currency is potentially going to $US1.12. He thinks the Australian sharemarket will double. Gold stocks will make an absolute fortune because most of them were profitable with gold at $US350 an ounce.
You heard it here first, but watch the program as well; Clifford is definitely worth a look."
