please read this and prepare accordingly, page-86

By 'your theory' i hope you mean Richard Russell's theory because I thought thats who we're trying to talk about... Jeez I feel like this is a bad passage from Abbot and Costello. I was responding to a different poster who claimed to explain Richard Russell's theory, or so I assumed...

With regard to house prices, there is no doubt what you say is true to some extent - we can look to various housing markets around the world to see this, as you say. And I also agree that to some extent the stock market is a leading indicator for the wider economy in so far as fundamentals are concerned, although this shouldn't be overstated (after all it moves on the greed and fear of people like us).

Of course even the 'dumbest person' (I hope your not talking about me) can recognise there is "something bad" on the horizon... You were probably referring to media commentators on A Current Affair. That's still not the point... Taking your argument to its logical conclusion its apparant that we are in for a downturn, but who didn't know that? (its happening already). Notwithstanding your (in my view correct) assertion that debt has never been so central to the equation, I still cannot resign myself to the sensationalist predictions being bandied about, as I don't think there is a strong enough basis for them on that argument alone.