I remember years ago, before online trading, everyone had a broker who called to recommend a good stock or suggest taking some profits and sometimes would call people in for a chat. One day I was complaining to my broker about the market and all the bad news. He got up, took a blank sheet of paper and made a dot with his fountain pen and asked me to look at the paper and tell him what I see. Naturally I said a black dot. Aha a black dot he said.. why didn't you say you see a white paper with a black dot on it? There is more white on the paper and you've picked up the black dot. That's how human perception works Markets have their black spots but there is a lot of more white than people think.. These days Black spots: USA (lots of debt + politics + a lot of useless economists)... However, I think Obama should prevail. He is a very smart dude!
Southern Europe...Greece...Portugal...etc (Same story: a lot of debt + hopeless politicians and no wealth creation) and that's our black spot..
A sea of white: from China to Germany... France... Sweden ...Holland... Scandinavia... to Brazil..more and more countries experiencing growth and prosperity... throw in the Russians and the Arab oil countries and who's whinging??
So what's the problem here ?
In regard to the Australian economy and stock market; I think no one knows what the( crap) is going one but it's very smelly. Not much debt, a mining boom, low unemployment and a very very very rich and talented country. And one still feels like if living in Portugal! Stock market and consumer confidence diving rapidly.. Beyond my comprehension, and definitely not a black spot analogy as above.
