bell direct, page-6

missionx, great post. May I add some opinions to your points.

1,2,3. I agree that there would be no GFC #2 due to the fact that it causes collateral damages globally, I think the EU's won't allow it to happen and besides Credit Default Swaps, are there more highly risked products out there? I am sure the US have learnt their lessons. However, I do believe in a possible global recession. Ten countries are in recession as we speak - UK, Greece, Italy, Portugal, Ireland, Belgium, Denmark, Holland, Czech Republic, and Slovenia. Now if the EU's continue to print money and loan it to debt laden EU countries, how will our big four banks fund their borrowing costs? In general, if funds dry up how do countries expand their economy? Surely a country can not grow out of debt by shrinking it's economy. I have some unanswered questions, how long will the Euro currency last? why did UK, Denmark and Sweden opt out of the Eurozone? I can say to some degree that the EU's monetary polices are not effective due to their current economic growth, inflation and unemployment problems.

http://www.zerohedge.com/news/spain-officially-double-dips-joins-10-other-western-countries-recession
http://en.wikipedia.org/wiki/Euro

8. A little birdie told me, there are a lot of dirt cheap US fore closed houses, and also scams to trick overseas investors to buying those properties. If there are so many unsold houses and unemployment remaining historically high, why would the yanks build more houses?

http://www.tradingeconomics.com/united-states/unemployment-rate

That little birdie also told me that the Chinese housing market is Unknown, that is, there are many empty apartments of city skyscrapers yet to be sold. Urbanisation from rural areas does take time. China has 1.3B people, top 20 cities has roughly 152M, urbanisation growing 10%pa, 150-200M migrant part time workers. How many of those migrants own an apartment? How much does the average Chinese make to afford one?

With world population surpassing 7B, gradually rising, people living longer, I can say with certainty that China, as well as other countries, will be hungry for more energy, food, gold jewellery, etc.

http://en.wikipedia.org/wiki/China#Urbanization

Comments, corrections, criticisms are welcome.