and fools rush in, page-18

The global economy is slowing but the downturn in the economic outlook in the US, Europe and Japan comes as strong growth in the Asia-Pacific region is continuing to drive demand for Australia's rich mineral and energy resources. The Indian economy has become one of our fastest growing export markets and is expected to continue to post impressive rates of economic growth.

Combined, China and India accounted for around 40% export value growth in 20070. Inflation is a problem but planned spending cuts by the new govt should curtail this in 08/09.

You can talk the technicals, including all sorts of indicators and macro formations, but the economic details in the future IMO are far more important than the past atm.

I think that the downturn in the US won't be as severe as the market is pricing in. In my view, the market has gone in the right direction but it's gone too far. For the market to fall 7% here was just panic, nothing else, which provided many with the opportunity to join the market like never before.

The bear always loses.