Today’s trading session started with even more selling of Australian shares.
The banks, as Vern Gowdie forecast accurately here, led the market down again.
There was a glimmer of hope that some more central bank magic would come in the form of an interest rate cut announcement at 2:30pm.
Didn’t happen. The Reserve Bank of Australia decided to keep rates at 2% for a fourth month in a row.
And so, at the time of writing, a bad day is turning into yet another REALLY bad day for Australian shareholders. (Of which almost all of us are, thanks to superannuation.)
You’ll get this after the market has closed, but as of right now the ASX is down yet another 2.12%.
And Morgan Stanley just slashed its target for the ASX over the next 12 months by 500 points.
As you’ll see in your free copy of The End of Australia, though:
If Morgan Stanley thinks we’ll get away with
just a 500 point fall, they’re DREAMIN’…
As Vern Gowdie shows in The End of Australia (click here to claim your free copy) we could already be in the initial stages of an epic sell-off.
The kind you see only a few times in your lifetime.
One that could dwarf the previous two (2000/03 and 2008/09) in size and duration.
And they were downturns in the order of 50%!
As you’ll see here, Vern lays out a best case in the range of 50%...and worst case 80% — possibly somewhere in the middle.
Vern believes this may well have already begun last week.
And has resumed today.
Yes, you will continue to see relief rallies like on Thursday and Friday. These have happened during all prolonged sell-offs in history. They will always be short-lived. And the prevailing direction will be DOWN.
Don’t just take Vern’s word for it though.
Send for your free copy of The End of Australia and analyse his numbers yourself.
The question you need to ask yourself is: can your
capital withstand a fall of this magnitude?
If not, then what can you do?
Vern’s book provides some solutions.
The problem is, things appear to be moving so quickly, these solutions might not work as well next month…or even next week.
There are ways to shield yourself from the unwinding that’s happening here in Australia. There are even ways you can potentially benefit from it.
But they won’t exist or be as effective forever.
The End of Australia: The Real Story Behind Australia’s Coming Economic Collapse and What You Can do to Survive It is a manual on surviving and prospering through one of the most trying times in our nation’s history.
To find out more about how to claim your free copy, watch this.
Regards,
Kris Sayce
Publisher, The Daily Reckoning
