redbacker's tale of two economies friday, page-17

Redbacka , that was very illuminating this morning that even a goofball such as myself can see what's going on

I'm particularly interested in the cautious but positive approach you have taken and the bad news factors to which you alluded .Everyone who follows the markets has known for some time that the US and Europe are bankrupt .It's even reached the mainstream now with your next door neighbour talking about it . Many touted that the end of qe2 would pre empt the collapse of commodities . It hasn't happenned to date . ..we also have extreme mismanagement and burdensome taxes in this country , which is another mitigating factor

I therefore have a belief , perhaps misguided , that if the markets were really going to tank they would've done so by now All the terrible things that are going to happen aren't going to be any great shock if they do .I think you have been saying for a few days that there isn't any real conviction in the selling and it appears to me we have reached the point where a reversal is imminent , solutions are going to be proposed , the world is going to go on

I too am cautious but positive