How many people have lost their jobs in Oz so far? Minimal to say the least?

Although no media outlets have the conviction to publish it they next rate cut will be more likely 100 or 125 basis points not the 50 or 75 most are saying.

We are going to get to a stage where mortgage repayments are cheaper then rent and with a $24K carrot for first home buyers dangling to the end of the year property in the short term is looking good.

Long term I don't know but if you sell now you are crazy, go out there and look yourself people.

On this web site there was an article saying the banks won't give you money? LOL
Go to bidmyloan.com.au and see how many people will lend you money!

I got 18 bidders to have my business and that's without even finding a property yet and speculating on the value.

Commercial paper derrivatives typically have a life of three to five years putting us at about the half way point in the great sinking. Other forms of leverage have evaporated more quickly however deleveraging WILL continue for the next 2 years (my extimations) and this WILL prevent recovery.

The equities market is ,at the momement, completely irrational and will remain so. I'm not a technical anaysist (I've never followed them or agreed with them in the past ) but I now listen to them when they say the base will be a lot lower than where it is now.

Re: US house prices - yeah, Australian house prices will go the same way - they have to!

Re: Joe's comment about getting people back to work. Yes absolutely. Idle people, idle infrastructure and empty (vandalised ) houses don't do anyone any good --- BUT---- wages and prices need to reflect actual worth before this can happen. In the US, wages and many prices dont like to move much so the adjustment WILL happen though the exchange rate. But this will only happen after the deleveraging flood starts to ebb a little. The other inhibators to recovery in the US is the crazy (and litigous) legal system, internal restraints of trade, regulations in all the wrong places, reduced individual self reliance and an assumption that living standards can be close to where they were previously. In many of these areas Americans should benchmark the Kiwis.

Never in my life time have I ever seen such turbulence in the market prices, housing prices, goods and services.I tink what a bunch of folks failed to realize is that "what goes up comes down." House prices for one thing were pushed up beyond the stratosphere by builders, bankers, mortgage companies,home owners and realty companies. Some folks purchased house without reading the fine print where they could be in for adjustable mortgages. The U.S. Government cannot and should not try and bail out every body. Whatever money is spent should be accounted for down to the last penny. The market place will finally find the bottom if those in power will quit trying to fix everything. The whole system is "patched" together and could fail at any time. Those in power know a whole lot more than they are letting on like. The new President will jump in there and try to spend money that the country does not have and will NEVER HAVE. Future generations will be tied down with this generation's mistakes. Believe me there are more than enough to go around. Let the market place sort this whole thing out.

How very true and sad. Americans no longer seem to want to cooperate with their own institutions. Institutions that created the freest and most prosperous nation on the face of the earth. America went from horse and buggies to walking on the moon in less than two hundred years. Nations with thousand or multi-thousand year histories did not and could not do that.

Now, our freedom and our wealth are disappearing and all we can do is cooperate with godless socialist global institutions for "justice."

Americans and the rest of the world for that matter should ponder for a moment what it was that made America great. I can assure you it wasn't the aforementioned "world's new institutions."

May the Lord help us, and the world for that matter.

Greg S.