The funds really think our economy will charge ahead? Based on the XJO being forward looking mantra.
Wouldn't falling house prices and a 20% decline in maximum credit allowed per application coupled with fewer applications being processed be an anchor to our economy as this applies to business as well as housing. In saying this housing and renovations are a huge part of our economy.
Can the miners, utilities, industrials and discretionary sectors drive growth alone? I think insurers, telcos, banks and other finance have had their day. Utilities can't get away with much more surely.
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