because the earnings are unsustainable the non bank lenders are Australia's sub prime they have all but been wiped out the assumption that gives the big 4 market share assumes that that they were lending to a viable market , mosey is costing more , spreads are getting thinner , foreclosures are rising and house prices are plummeting , oil and food prices are out of control.
Folks seem to assume earnings will be stable in an economic downturn, Australia's debt to income levels are the worst in the world. Isn't it being a bit optimistic to assume that earnings will remain strong in a global credit crisis, is that outcome the highest probability?
time for clear heads to prevail, page-2
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