resources demand, page-12

rcman
Agree with just about everything you said.

Although I think Asia will be in for a major correction
in about 10 years.

They have plenty of money to splash around right now
and anyone who thinks short to medium term they have
problems is completely blind to the way these people
do business.

However there has to be correction one day as the gap
between wages and the cost of owning your own home is to great.
In the short term the banks and the governments will be
accommodating of bad loans. Also the economy is going to
continue to grow at incredible rates.

But you can't pay people $10 a day and expect them to spend
$150 to $200 thousand on a house or an apartment.
If they were western countries they would be in trouble a lot sooner.

I see some sort of correction only when the Governments run out of options like what's happened in Greece.
This is much further down the track then the Bears are preaching.

The amount of money these guys have access to is staggering.
IMO we have a good ten years of boom times ahead.