I dumbfounded that folk want to buy WBC at any price until this...

I dumbfounded that folk want to buy WBC at any price until this economic cycle plays out . I think it's probably because most of you don't remember recessions, lay-offs & can't imagine housing cycles that played out in places like Spain & Ireland playing out here . Australian banks have lent as much they are ever going to into the residential market , most of their loan books are close to 60% residential mortgages , the next closest globally are max 40% , what are folk expecting 70% ? 80% ? where is the growth going to come from ? then we have a Chinese down turn and global down turn ? now we have the RC report today . WBC has been drunk at the wheel from a credit quality POV , a lot of their loans can be re classified non prime & sub prime ? So why is WBC cheap at 23 ? or 22,21 , or 18 ? . we've got a recession coming and a global recession to follow . treat your money carefully it's fragile , good luck