anz 15 bucks place your bets, page-26

OK Slikk if ANZ are in such great shape & you want to ignore the $500 million raised from the future fund what about the $10 billion they got from the RBA in exchange for a whole pile of mortgages they wanted/needed to get rid of??. This reeks of the same desparate banking & central bank activity that the BoE engaged in before nationalising Northern Rock. Havent you bank shareholders realised that that the Western world banking system is having its Japan moment ie stock market & property market multi year decline.
We are only a few months into the realisation that this is occuring yet Ocker wants to be the rally monkey for the banks--- you are flogging a dead horse old son. We will likely get rallies along the way in the banks but when Aust residential property is selling at around 10x average annual income which are levels never recorded anywhere in the world in economic history & most property crashes in the UK start when prices reach 5x annual income you can be sure the pain has only just begun here both for mortgagees (homeowners) & mortgagors (the banks).
Ocker in trying to be balanced you are favouring the banks & moderating the Opes guys whos research may just be a little bit broader & deeper than your blithe summary of the latest ANZ spin.
The US property market is 2 years into their decline & yet they have erased all the gains of the last four years of the bull market. Remember Ocker you only need a 50% decline to wipe out a 100% rise in prices. Also the US property market never got above 4-5x annual income so it puts the property bubble here into chilling perspective.
If you compare the Aust UK & US property booms with the Japanese bubble the percentage gains in all 3 of the former exceeded the gains in Japan in percentage terms for the preceding 10 years with the greatest gains being in Australia. Unfortunately history will record this as John Howards legacy & he deserves the greatest percentage of the blame. Remember the Eighties when the Japs toured the world paying outrageous valautions for any property asset they could get their hands on well that was the OZ property trust geniuses in the Naughties & I suppose you think their good value toO Ocker & also they wouldnt have done this with money lent by the Fab 4 WOULD THEY???
Along side this you have a negative net savings rate in Aust & every wife is already working so there is no buffer for families who are holding record levels of household debt to cope with rising interest rates & the inflationary rises in petrol, electricity, gas, food prices & childcare which will rapidly slash disposable income for more & more families. But these things are currently excluded from the inflation calculations because they are volatile yet they are the majority of a family's budget. You gotta love a cenral bank that can get away with that BS for so many years. Also house prices are excluded from inflation calculations. So what is the real inflation rate these days.
Yeah your right Ocker back up the truck on those bank shares-- thay way you'll be able to actually meet a few of those terrible Opes clients--- IN THE SOUP KITCHENS
You can verify most of the facts in this post from back issues of the Economist magazine for a start.
On rereading this some may feel I was a little harsh on Slikk & Ocker but hang on-- THEY STARTED IT.