thursday throbber, page-32

g45, you're right to look at the banks.. taking a pasting today.. almost back to the 06 lows again.. infrastructure eg bbi almost back to its issue price 5 years ago.. small cap listed funds below issue price some of them.. this decline is pricing in a very big recession.. and discounting the effects of inflation on nominal stock values.. something big is happening .. rba is helping fug the economy as well.. freakin inflation zealots who haven't got a clue.. stock markets are the most reliable precursor of recession available.. growth is coming off already.. so we've got rising rates with declining growth.. and the inflation they are targeting won't respond to interest rate hikes anyway..