Re: The next Great Depression?

Stan R wrote:

> As I said, Canada seems to have escaped the speculative property frenzy.

> I haven't come across a satisfactory explanation as to why it has 
> happened that way though. It's not that much dissimilar in its economy 
> to Australia - particularly with respect to the resource sector.

Could it be that the Australian resources differ from Canadian ones?
I am referring to the oil industry (here known as "oil patch") and 
unbelievably massive investment going into the country.  We are talking 
about tens, perhaps hundreds of billions $.  Also, Canada is not just 
resources.  For instance, Ontario manufactures over 5 million cars a year.

  That's the reason it is so vulnerable to changes in credit availability.
Does Australia have comparably large manufacturing sector?

>> Anyway, I carry no debts and the majority of my assets is in precious 
>> metals :-)
> 
> Good strategy for the current environment!

Well, both my kids are in high finance, so the advice is free :-)

Cheers
Frank

-- 

<feeb@[EMAIL PROTECTED]
>