sixty minutes, page-64

All the worlds’ best minds are saying the same (Schiller, Dent). If you want anymore confirmation that we are heading for the sewers, did anyone notice all the John Deere adds during the show? Go past there distribution centre on the Ring road in Melb. Last year and the year before that, there was a sea of ride on mowers, and now there is hardly any. Tough times are ahead. Dent says there could be a stock market rally for twelve months, but is saying the same. Schiller says housing is over valued and will fall. The stock market crashed in 1929 but unemployment didn’t hit its peak till 1933. If his prediction of 1,000,000 unemployed is correct and Australia is in the best shape of most of the top OECD countries, then what will the world be like. Not a pleasant place I assure you.
What you have to ask yourself is what is going to make the market rise or increase demand for housing.
Answer nothing.
Housing is going to fall big time. Commodities are going to fall big time. Unemployment is going to rise big time.