TNX Gridiron for that artickle.

I guess there is differrance between the European housing market and the US and Canadians.Here it was not possible to buy a second house based on the value of the first house.So banks here wouldn't give an extra credit to buy another house though the first owned was higher in value due to the soaring housing prices.Maybe that's why housing prices still are at a decent level and hasn't dropped so much.

We have also another saving approach .Many people are invested in stocks like myself but the majority has more in stocks by funds or have the most in vast rating bonds and other safe accounts some with tax bonus systems.I have a lot in these myself so ùmy exposure to the stock market isn't that big.The only thing why our indexes are so low is due to the behavior of the banking sector.Since 2005 and later many European banks heard about the CDO's with big earning.So like most people do they started to sell these products too and some took over some American banks or created their own CDO's.That's the reason our 3 biggest banks here are now so in trouble due to the exposure since 2005 and later to the subprime credits.They had taken so many risk they were almost bankrupt.Now they are at some point under state control.But the people still have money .The danger for us can come from protectionism from other coutries and also the US.Obama will now propell the economu by stimulate the internal market .Cause we in Europe have many foreign compa,ies here the pressure to shut down plants here instead of shutting them in the original country is great and that can cause on longer term trouble over here.I hope things can turn in the good direction again otherwise impact here we also be felt more then it's now.

About the oil chart.Got this from Jurek .It's clear that we ca, make bottom and the chances are improving that we will go towards prices mid 50 after summer.That would be nice and if Jurek is right that POD 1 could be profitable at current prices then DG could give the go ahead maybe till mid 2009.If so then we have a delay about 6 months.Could it be that the delay is less then we think because they equipment is built outside and stored right now.What do you think as Canadians what would be a good month on terms of weather conditions to start ?I learned here that access to those area's is not so easy with heavy trucks.