If you want to talk risk, put down the PE talk for a second and look at commercial real estate, inflation, higher defaults, forever wars, growing china dependence and the economy and tell me that real estate would not be effected equally across the entire board when the house of cards fall, yet dividen stocks (this is a fact) tend to out perform the rest of the market due to hardships not really keeping people from drinking coke and eating at fast food chains.

Michael, that's a scary Forum Title at the beginning of a downturn.Australia, China, Canada, California, New York have already droppedand the big banks have recently laid of 100s of high paying mortgage jobs.With interest rates over 5% for most average SFH buyers, are you leveragedfixed at 3-4%?

Many of the materials used in construction (lighting, plumbing, finish hardware, cabinets, etc.) come from China, and are sitting on ships out in the ocean.

Too much water and we have Katrina, the India Ocean Tsunami and the greatest loss of life ever in nature in the flooding of the Yellow River in China. 

Peeling off thousands of "made in China" labels definitely sounds crooked and illegal but not necessarily "creative."

The last auction of treasuries also saw Russia and China buying less US debt and investor optimism is not high, and bids were like 50bps greater.

Aren’t Russia and China two large parts of BRICS?

when there's broad changes in interest rate (not just because of central bank rate changes, but also currency depreciation, overnight changes of currency rate, tightening standard of lending, or due to inflation), the first hit is always in banking sector and real estate commercial space, this happened in latin america in 1980 and asia too in late 90 ; in reality, commercial space could only develop during the first wave or major economic expansion (like in China during 2000). 

Think about the weight of all that glass and china.

My market is India, China and Europe with teak, no resale market means it is a buyers market, labor is cheap, you can still buy hilltops with great views, river front properties, etc.If I was going to buy in Belize or any resort area I would wait till the next financial downturn in the U.S.