Yep I agree totally I just didn't know it was that date the games finished. The market is just primed for a crash. The following are some good reasons to worry.
Rudd does a whirlwind world trip talking about economic matters. The USA is slowing so the biggest consumers won't be consuming. The Beijing games will conclude along with massive infrastructure associated with games, and also the Chinese’s economy is not Robinson Crusoe. The most worrying point is that Joe Blow Citizen is getting nervous, and pulling their belts in a couple of notches. Super funds returns are falling as more people convert to cash. The Banks are upping interest rates above the reserve fund rate to allow for foreclosures, and increased borrowing costs and to quell shareholder discontent. All these Billion dollar stock write offs lead to somewhere every thing is connected in some way, so there is more pain to come. Banks soon will have to show the extent of the current damage. House prices are way out of line and that Bis Shrapnel report the other day is a scurrilous lie. Sure their is a housing shortage but it wont be filled with a price hike in houses. Think of the future as being small is beautiful. The Mc Mansions will become symbols’ of the baby boomers. You may be able to afford to buy them, but you certainly will not be able to heat or cool or pay the electricity to run them. The future carbon tax will see to that. Look in your cupboards and garage at the amount of rubbish you are accumulating, we have been fooled into thing we can spend like there’s no tomorrow. Our affluence is showing in the amount of cheap shops selling cheap junk which we don’t really need to survive. All this is made in China. Its time to travel over seas as the Au dollar is going down, down, down. The falling dollar will increase the cost of Chinese goods and lead to a slow down in China. The Chinese will not need so many raw materials so they will buy less of us. It’s a vicious circle which has just started. Baby boomers the greatest spenders in history of the world are going to save and protect there investments.
