You can never prop up mining towns though. They exist to service the mines. When the mines either close or employ less people the town population decreases. This is pretty simple and why I would never invest in mining towns. Having said that you could probably make some good short term profits if you got in early and exit at the peak. But that's in the too hard basket for me.
As for interest rates. This is the million dollar question. But the "next few years" argument has been put forward since shortly after GFC. It's always a slightly different narrative but the same story.
I can't say I 100% disagree with you. BUT, I have missed out on more gains by being conservative than by being invested. The problem with sitting on the sidelines is that markets tend to keep rising and you keep saying, the fall is coming, oh gee now the fall is going to be even bigger, any month now... And before you know it, even if you buy after the crash, you are still behind where you would have been if you had been invested all the way along.
