@cha - Had to be out all morning so missed the excitement. I can't begin to think of such long cycles as I am still struggling to catch up. But I think each recession is different and what is different this time from anything we saw before is the world debt situation. At the beginning of the year when I had thought everything through, I saw recession signs but partly because of the charts on some of the overseas banks and other lenders. Also I am terribly influenced by sentiment. Last year all the economists saw a recession so when it didn't eventuate they decided it was off the books - just when I saw signs of many things heading that way. However, one day doesn't mean the end of it all. I would like a bit more evidence and as we both know tops in cycles can be long and frustrating. But it certainly was not a good look last night. Want to sit quietly and update my longer term stuff.
But I have just been inspired by a 92 year old man speaking. A lovely experience. Even bought one of his books.
(20min delay)