"it won't be as bad or scary as you make it out to be".
Well, if anything the reality are turing out to be a lot more scary in terms of how much fear there is in the market and how desperate the spruikers are ducking for cover.
I certainly didn't anticipate a clearance rate of LESS THAN 50% for Melbourne last week. But here it is. Can't wait to see next week's results.
The moment the RBA cuts rates in panic, the overseas banks will jack up the cost of funding in anticipation of the inevitable meltdown. Next thing is credit CRUNCH.
The hedge funds will be like vultures shorting the banks. Mom & pop investors having experienced the GFC not that long ago will dump bank shares like there is no tomorrow (with or without a short selling ban).
