Hi Pongo
The world has changed in the last 20? years, in that there are no rules anymore
We always had certain laws, codes, accepted behavior but that has all been thrown out the window
I gave up trading because in my view all the analysis methods no longer worked, share prices went up and down for no reason and in direct opposition to any methodical calculation
We have also seen governments throughout the world "print money" without any apparent necessity other than to keep themselves in office
So predictions are also impossible apart for the fact that economic security is on shakier ground than ever and a capitalist system must have supply and demand highs and lows, the lows have been manipulated out of the system by fiddling with the basic system of trade
Prof Keen made his dramatic housing prediction and came unstuck because the government decided that it would not allow the housing market to drop, so used legislation, marketing and money to continue pumping the bubble
By any law of business or gambling a large drop must come within about six months as governments will face elections and will continue to deface the value of money to the point that money will not be worth anything
Already the level of world debt if far beyond the world GDP so we are on a razors edge and just a small push somewhere will cause the next phase to come into force
Even our Westpac problem is enough, regardless of how the government tries to cover it up and keep it under the carpet.
Enforce the law and close the bank or ignore the law and continue to paper over the cracks, it's no win scenario
Then you have Deutsche Bank which is rumored to have the US Fed propping it up
More and more banks throughout the world are closing their doors, including China
Change is coming because it is inevitable not because of any Doom and Gloom statements but more because of the writing on the wall, so sensible people will still get out of bed and still strive to achieve more, but be very, very careful as value increases are most always very slow but downturns occur in a matter of hours
Just my opinions for my interest
