rba issues warning to banks, page-29

Firstly the last thing I would ever want or wish for is a depression.

I absolutely believe in positive thinking and moving forward, but I am a realist as well, and perhaps my views reflect my lack of faith in human beings in positions of power to act with integrity.

But to say that it wont happen or it has been successfully avoided is a massive call and one that I don't believe in because I don't think any human being can change economic laws.

Natural laws of this kind can be bent for a while but not broken.

I think Bernanke and co will be seen in a poor light as the current events become history and we have 20/20 vision in hindsight.

I am familiar with his views on "depression management" and I do not agree with his conclusions.

We will know in the next decade I guess.