The only reason that interest rates arent at levels seen in the...

The only reason that interest rates arent at levels seen in the 70's and 80's is that these days the level of debt against ones yearly income has increased significantly from where they once were in the 70's and 80's.

If the central banks let interest rates rise to those sort of levels again, there will be massive defaults, banks will fall and anarchy will reign.

If Oil and other commodities come off, it could be indicating that global demand may be falling. Our reliance on China/India may look a bit shaky for the resource sector (which IMO is the only thing that is holding the market up). If resources come off, the XAO will be below 4000.

Depression is a realistic possibility if commodities and oil continue to come off. People shouldnt be complacent about this fact. It will be a very interesting next few months.

People with massive amounts of debt should be very careful.