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And bumps I hope you are correct and it's just a correction, not the beginning of a new downtrend.
The fall here in oz is well past 10% level and if you view sectors like banking the drop is 20% already. I decided to take a punt on an ETF based on the xxj (financials) given the large decline already, but sometime today would have been a better timing!
Yes, I think it's time to start reaching for your wallet to buy. And if it falls 20% next week/month buy some more. Some good prices on quality companies now.
I moved 85% into treasuries 2 weeks ago just after the big drop, and so far it's worked out for me. Think I'll stay here through the summer as it's usually slow until Fall anyway.
Making newbie mistakes since 2009 so you don't have to
Just on a bit of economic news i've read in the past week.
Has anyone else read the stories on default levels in us housing???
In short it's staggering!
Some sectors are twice what they were 12 months ago.
Apartment loan default sitting at 4.6%
10% of people missed at least one home loan payment between Jan-mar
now if that's a sign of an economy getting better- I'd hate to see one in bad shape!!
Pacman, stock up on that tin food, gather a gaggle of ladyboys and let's head to the hills! The end is near
The world's currency regime is undergoing a slow death. It will take years before the impossible burden of greater & greater deficits finally brings one of the major currencies to collapse. Though when it comes it will happen quickly.
But what exactly are "they" going to do? Can you imagine a delegation of high level central bankers turning up in Washington demanding payment?
What payment would be acceptable? More US dollars? Rhode Island?
Before such nonsensical scenarios get to be played out, an international villain will appear, or more likely, be created.
This will then give the US the excuse to start a major international conflict which is how all previous financial crises have been resolved.
But I like the sound of a gaggle of ladyboys. Which hills did you have in mind?
Despite the high cost of living, it continues to be popular.
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