3.0% predicted growth atm from 3.5%. A recession will only eventuate if the European credit crisis deteriorates and infects China. If this happens, we will plunge, along with our currency and property prices will go with it.
We're held ransom by the Chinese economy - a gravel pit.
By the way, household debt is an incredible 150% of discretionary income atm and we haven't had a recession since 1991. A generation has little clue. Some do - prepare for it, as some are via current yields; squirreling away while the hay shines in the moonlight.
