Crash 08

It seems that nothing is going to slow this "correction" in the world economy down!

The funny thing is that the same problems that happened in the crash in the 80's seems to be rearing it's head again, as one of the major players in the current crisis.

Above I called this Crash a "correction" that is exactly what it is. Here in Perth, Western Australia I have seen the effects over inflated prices for quite some time. People have been purchasing property in Perth,  and through out Australia as if the Property prices were never going to go down.

The funny thing is that most of the Real Estate agents I have spoken too over the past 2 years believed the same theory.Even up until a few weeks ago some Real Estate agents would not change their way in thinking.

As I watch the ASX go up and down I often find it funny what some TV "Industry Professionals" have to say. Granted most are correct but every now and then you hear someone say something that just isn't right.

All I can say is it looks like we might still not have seen the worst.