excuses excuses, page-19

Warnie will go down the tubes at some point like all the other "heroes" here on hotcopper who cannot help themselves but brag about how smart they are.

FACT - Houses and almost all other asset prices have accelerated up in value at an almost exponential rate.

FACT - Wages haven't.

FACT - Either asset prices must deflate or wages must inflate to bring things back to a normal range.

My money in on the former not the latter.