smh commentator seems a bit negative

about the where the economy might be headed

in this article on Wesfarmers equity raising he concludes
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"In the past few weeks, there has certainly been signs of a recovery in debt markets. But those signs have emerged periodically in recent months, only to be dashed by another unexpected explosion among global financiers.

There's now little doubt the US economy is into the early stages of a recession which is likely to spill over into other developed economies.

The International Monetary Fund now reckons there is a 25 per cent chance the world economy will also head into recession.

All this has been caused by an asset bubble, the likes of which has never been seen before. So far, we've only seen the fallout from the first stage - the US housing market. Next will come the headaches from the worldwide consumer binge via credit cards. And after that, the corporate debt spree, best illustrated in Australia by the private equity bid for Qantas, will come home to roost.

Can China and the developing world save us from the excesses of the past few years? Richard Goyder will be the litmus test."

A lot of people might be jumping in on Monday only to smashed down again perhaps.