To answer your question, yes the economy seems to be ok over here. House prices are depressed so the interest rate cuts will perhaps help there, but they were getting very high so the correction was probobly due.
The cost of living is high but you just have to shop wisely. The only thing you cant avoid is the worlds most expensive pint when drinking out!
There is massive amounts of mining and industry money being spent but you dont see its effects really, as in, I dont feel im living in Switzerland or Norway looking at the way people are living, or our roads, healthcare, education of hospitals.
Finland for example have no national debt, Norway have no debt and a huge amount of future fund in the bank, I would like to come away from the huge sale of our national mineral assets with something permanent to show for it.
Gorgan is worth about 50 bill apparently but Ive heard only 10 bill will be spent in W.A. I can understand companies wanting as much as possible to be manufactured overseas to absolutely maximise profits but there needs to be a balance to get value out of what is essentially Australian owned assets.
There are employment possibilities here ATM that perhaps are not in the east except maybe parts of QLD, I am just anxious to see were have a cash and training legacy left after the gas is gone.
Anyway back on the PEK specific front I see we closed above 33c cents albeit by a whisker, so i hope this is a good sign for tomorrow.
Cheers Tretch
PEK Price at posting:
32.8¢ Sentiment: Buy Disclosure: Held
