Gloomy! Why wouldn't you be a little defensive with all the news out there.
Europe is a basket case. Greece doesn't want to pay its borrowed money back. Ireland is starting to think that its medicine tastes bad, Spain is starting to list, France is going to go against Germany. Germany has all the cash and is bailing everyone out with Gillard's attitude - She'll be right mate.
Confidence confidence confidence.
Who wants to be the one left holding the bag? The one that borrows money for a business venture with the possibitity of a currency crisis. Which could impede your future costs to borrow?
Who wants to purchase a property that has decreased in value 10% over the last 12 months just because it is seen as cheap now. Remembering that the experts said this would not happen. Why would you buy if you think that they COULD or MIGHT get cheaper?
Australia has only posted good numbers for 1 reason only - CHINA. They are willing to buy and buy the stuff that is being dug out of the ground and pay us good money for it.
