the bears wish for cheaper housing came without any thought for the wider implications that would be required to bring about that change
now those wider implications are about to become a reality
there is a wise saying...be careful what you wish for
so today we have news of QR National sacking 900 employees, BHP news yesterdays means around 18000 new jobs will not be created now, and some existing jobs will have to go
I have not added the large job losses reported last week or earlier
all the little miners that feed off BHP will have to take stock
so here we go, with our own AFC...australian financial crisis.... job losses, mean one is very unlikely to be in a position to buy that dirt cheap house.....and the banks are more likely to clamp down on lending practices
it is never as simple as it appears....but life has a way of teaching one lessons.....usually the hard way
