a good read indeed.
I think that much of the profitabity has come from all the mortgage refinancing & topping up the credit card limits as well as the run of the mill 'wage' earners & now that interest rates are rising I predict profits will be down for the S&P in the next few quarters.
I can see why you watch the A$ v the $US very closely as you can win/win with the right scenario naturally the opposite is also true.
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