Thanks Mike - you are one of the few I suspect - well done.
Now who would doubt the insurers don't have their fine print to avoid liability for the event insured against?
And who would assume bank officials would be interested in the fine print when they are getting the sucker - sorry the client to assume the risk...
...or so they think.
If China does slow or the AUD can continue to climb or at least stay high against the global basket of currencies not just the USD... whoops batten down the hatches.
Remember Pimco - who manage a US$1.2Trillion Bond Find are out of US Treasuries and backing off bonds because rates are heading up - here comes the up cycle in rates world wide. They are now looking at emerging markets and equity funds focused on valuation misalignment. Rising rates - a good reason to exit bonds and a slow but agonizing collapse process when added to the greatest debt bubble in history.
I read about the hubris you guys mention of Aussies who eat up the garbage in the media - brilliant stuff you are on the ball I love this thread. I have enjoyed the brief glimpse I had time to pick up.
