was looking at buying bank shares if they dropped around 10 %,just heard a scary statistic on sky,cba has 35b net assets and 330b mortgage home loans,i'm not an accountant but depending on the home loan ratios any what i would call a reasonable correction in house prices eg 20% at least and banks may b in a lot of trouble eg explains y during gfc 3 banks went running to gov't re their solvency.ps its amazing,over many years western gov'ts and unions load our manufacrures etc with high utility expenses,land tax,carbon tax,payroll etc thats fine whatever,but then the theoretical economists come along with their free trade agreements with countries like china,and the west wonders y their/our manufacturers move to china leaving the west in an economic mess.
