Yes I saw that interview and he intimated a lot more than usual, I think he looked worried myself, genuinely so.
I think it is the banks that are worrying him mostly, with the Sydney and Melbourne property markets.
The banks have other problems which are associated like shrinking revenue from mortgage loans.
One of the other problems all the banks have in Australia is they paid too much in franked divi's and did not invest back in new technology or their infrastructure enough. The banks IMO paid too much in franked divi's in an effort to maximise the Stock Price in order to get their bonuses paid.
They are vulnerable IMO and if they get a shock either from competition investing in disruptive technology or from a housing easing then there could be trouble. I do think Australian banks are quite strong though and would not collapse by any stretch but there could be trouble ahead for them. I think a lot of people see this and these are the reasons the banks SP is dropping that and the increased liquidity regulations coming in soon.
I think the banks will be paying much less in franked divi's in the future.
Just my opinion of course and not professional advice by any means, Im just a hack with a calculator.
Almost as dangerous as a Lieutenant with a compass!
