bell direct, page-2

Hawksboy thanks for posting the article
But IMO find it extremely hard to swallow from start to finish. Its like he has jumped on the band wagon all be it miles to late. Predicting the future short term (which can't be done consistently) but then uses could be's and maybe's in the article. Not saying at all PNA and many other stocks on the ASX aren't going to fall further but IMO it won't be because of what he has stated. wow and to think these guys get paid for writing this.

Just to show others here I'm no sacred cow I will post some thoughts/opinions of where and how I see things panning out and if others disagree or wish to add their own views please do - I welcome their input.

1. There will be no gfc type stockmarket collapse - companies are not so exposed to debt, investors are not so dependent on margin loans.

2. The current european crisis has a political solution - eventually a stronger fiscally integrated europe will emerge however the process will be slow and occasionally messy.

3. Separate from the current bond crisis, Europe is going through a structural economic slowdown this will cause low growth and more frequent recessions/contractions. This is due to them generally losing labour market competitiveness as wel as ageing populations and low birth rates.

4. The new norm in Western nations will be governments that are less prepared to run large or long duration deficits.

5. Western nation economic growth will be significantly lower in the next 10 years than the last 20.

6. China will maintain growth above 7%

7. The Asx will stay around this level for the medium term with occasionally spikes lower and higher.

8. Now looking out further (Within the next 5 years but I feel sooner than later) The US is the “sleeper”, IMO. If they can get their macro economic policy setting right, they could be growing at 4% pa and give China a run for their money. All this will be driven by cheap energy. If that does occur, then that, coupled with Chinese growth will power Aust on and I believe quite well. What they need more than anything else is there residential property market to improve. When the darn yanks start building houses again the economy will pick up quickly.

Mx

PS PT will post a compare chart for you latter on today or over the weekend. If other holders wish that I include a stock of their choice as well let me know and if I can do it - will be happy to do so.