subprime a myth , page-9

Time will tell

I think that their financial wizardry has come back & bit them in the bun .. the US economy is in strife ... their financial system is in tatters, & sub-prime has opened the door to reveal the mess they are in.

So, yes it is the canary .. well this time the canary has keeled over, but IMO the warning is not too late ... as you mention the cavalry has come in to save the day & prop up the fallen ... Hey! But thats what the cavalry is for!!

As I said, more will be revealed ... But is this the world's financial armageddon?

Nah ... I reckon we are going to see a paradigm shift in the world's economical powers, with other markets becoming les & less dependant of the US, and this might be a defining moment to that end.

No doubt we will see the return of the bear for some months in the US ... but IMO the Aussie markets will push ahead from strength to strength.

Thime will tell

cheers