Stop kidding your selves
The Australian property market will fall 10 % in the next 12 months
This will result in a loss of wealth for investors and those who borrowed at 90% LVR will be in jingle mail
The banks will have their security base cut by 10%
This will mean less security to lend against
The banks will be subjected to constant bad press from the Royal Commission
If Labour wins in May the banking Royal Commission will be extended leading to further bad publicity
In addition the franking credits will no longer be rebates at tax time so there is less reason to hold for the little guy
There will also be changes to negative gearing which will discourage investors into the market
Less business for banks
In addition the world sees the Australian economy as bad and has marked the Aussie dollar down to 70.5 cents
It is now worth only 97 Singapore cents
On my flight home from Singapore with Scoot the Scooter would not take Aussie dollars and demanded Singapore currency
We are losing face inAsia
China is set to intervene in the November mid term elections to get even with Trump
The destabilising in world markets will hit Australia disproportionately
Wake Up Every One
Get out at $27 and save your capital and assets base
This I believe
WBC Price at posting:
$27.49 Sentiment: Sell Disclosure: Held
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