Thanks for remembering all that, not too many have come back to say "I was wrong".
Time Will Tell, absolutely correct.
The most important thing for all of us to understand is that it does not matter one little bit what we discuss on here, things will happen as they will happen, we have no say in the matter.
Can we change each other's minds? Of course not and even if we did, so what?
We just all get together here because we like a good argument, bit like the Monty Python sketch where he goes to pay for an argument.
The interest rates thing is very interesting I think. By watching US rates we can get an inkling of the direction of our rates but in 12 months time (roughly).
It is the direction which is indicated not the amount.
US rates are always lower than ours (due to sovereign risk perceptions), it is just that we go up a while after they have gone up and we go down a while after they have gone down.
I did a more lengthy explanation 9-12 months ago where I provided links to graphs and charts supporting my premise.
