Treggs there is no such thing as Australia without resources. Coal just received a 300% boost. Iron heaps, oil and gas heaps. Even without resources there is still beer, sun and beaches - tourism. And the banks - still thriving IMO - just (wisely) keeping their heads close to their shoulders as relative minnows on the world scene.
The unfortunate in this mix is the leverage in the finance industry that enables the index manipulators write their own cheques - at most Australian's expense (70 Billion written off super schemes). Hence XJO may well make a clean double bottom & you say why, and I say because they could.
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