You make some good points however you are missing the major...

You make some good points however you are missing the major point. The world is going to change. You are basing your views on what is happening now, but not taking into A/C what is likely to happen. Sure at the moment there is unbelievable growth in Asia, India, and China.
I see a pack of cards unfolding, and enveloping the world.
Theirs an old saying ("a small leak can sink a great ship"). First we have a few Companies going belly up, then small rural Banks, Businesses cutting back, job loses, Mortgage foreclosures, rising unemployment. Then the builders, next the Real Estate Agents, property price will follow as people have to sell as they cannot afford to pay there Mortgage and so on.
POINTS TO PONDER
The IMF has come out for the first time in History saying there could be a small recession.
The FED has dropped interest rates at an alarming rate.
The FED released funds to bail out a Business.
Everything is at record levels this includes Oil, Food, Property, Shares.