friday free fall, page-48

I'm treating this as a buying op.

Risk appetite is slowly returning, fear in Oz market is subsiding.

What happens in the US subprime capers (up or down) will be seen as increasingly as a decoupled problem for the Oz economy. Fundamentals are still strong, and I don't bealieve the real economy (i.e., the oZ real economy) won't be damaged too much even if there is a recession in the US.

Problems in China I'd be much more worried about.

My feeling is that the subprime fiasco will increasingly become a side-show, with perhaps a few US lenders going under, but once the credit markets get over the overdone paranoia, things will be largely back on course, particularly in these sunny Antipodean climes.

A contrary viewpoint for your consideration. :-)

-Mark