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Well, that comment has just stunned me. Mining does not contribute much to GDP, that's because it employs so few people. Most of GDP is made up of services. We are a services and consumption based economy that luckily has commodity exports to pay for everything. The commodities boom lifted...

Nice post. I should add I'm no where in anyway predicting across the board property drops of 40%, and I've stated before why I think the cheaper end of the property market will hold up. We have even been looking at some cheap high yielding Sydney property. I do think most people though...

Well, I'm buggered if I can see any problem with D&G discussion. I enjoy discussing what the bad outcomes could be. We seem to have split into two groups. One group is using a top down analysis. Looking at the state of global business, debt, deleveraging, companies going bust...

G'day Mark. You still in NZ? What's your views of the recession over there? I was there briefly in October, and the place seemed little different to me, although I heard some of the big property developments were slashing prices. Could give an insight into what will happen over here...

So house prices have gone up in the last 3 months? Well I'll be darned? Imagine that? See ya's.