.......over the past 3 months the US has been bombing Java whilst the JI Islamic extremists are digging in and showing no signs of capitulation.
This comes in the aftermath of the destruction of 25% of the Sydney CBD 4 months ago.... where 4550 people were killed. Real estate in Sydney has fallen 46% from its highs of Oct,2002 and this is causing concerns at the Commonwealth Bank (Australia's major housing lender) restructuring loans.
Australia's economy is going to take 5-10 years to recover from this terrorist attack. Currently the A$ is steady @ US28.9c and the RBA is raising interest rates for the fifth time to 9.2% to support the currency and keep inflation down... now @ 11.5%. Currently the ASX Allords is up 23 to 2253. ARE YOU HEDGED AGAINST THIS SCENERIO??
IMHO what to do? Buy Gold Buy ASX stocks that derive most of their revenue O/s Move offshore Dont over commit on your real estate. Send Howard a thank you card.
