Now for a big rumble in markets across Asia today, starting with the US after Wall Street staged its now usual sell-off ahead of a looming change of Fed monetary policy.

Watch iron ore stocks today on the ASX, they will come under more pressure after the world spot price dipped under $US60 a tonne in a brutal 4.5% slide.

As was widely forecast, Premier Li Keqiang yesterday lowered China’s 2015 growth target to “around 7%”, down on the 7.4% growth rate reported for 2014 which was the lowest in 24 years.

Confirmation yesterday that the economy continues to stagger along in low gear, not going anywhere, except sliding lower as 2015 goes on.

Australian investors with a taste for rural investments will have a chance to get their hands on a new play in rice in coming months with the decision by the rice export monopoly SunRice to list on the ASX in a limited fashion.

Ahead of the Reserve bank decision yesterday (non-decision really), we got the final data release ahead of today’s 4th quarter national accounts and GDP figures, and more early figures for January on how the economy started 2015.

No rate rise from the Reserve Bank yesterday, upsetting all those pundits who were forecasting a second reduction to go with the surprise chop in February.

The stockmarket boom of the first two months of the year is set to continue into the second trading day of March after another surge offshore, especially in the US, on top of yesterday’s 0.6% jump to new seven year highs.

Besides what he says about banks, brokers and succession, not to mention deals and bargains, its the share investments of Berkshire Hathaway which attracts interest from investors large and small.

Don’t expect the next 50 years of Berkshire Hathaway to be like the first 50 – and perhaps not even the next 10 to 20 years, according to founder and chairman, Warren Buffett.

On the succession question Warren Buffett expanded previous comments to say: “To further ensure continuation of our culture, I have suggested that my son, Howard, succeed me as a non- executive Chairman. My only reason for this wish is to make change easier if the wrong CEO should ever be employed and there occurs a need for the Chairman to move forcefully.”

For the Australian stockmarket, what a month February was and what a start to 2015.

It’s now official, the Chinese government is very, very concerned at the health of the economy – and we in Australia should be just as concerned.

Apart from the usual charge of the very late reporters (with hundreds of millions of dollars in losses) this morning through the ASX, the December 2014 reporting season is over.

It’s going to be a big, big week for economic data and central bank decisions from Australia, Asia, Europe and the US.

Oil and gold had mixed weeks and months. Gold lost ground, but oil prices rose and had their first positive month since the current slide started eight months ago.

Kerrunch … that’s the sound of the country’s investment boom collapsing, as forecast by the Reserve Bank, successive Federal Governments and every economist worth their laptop and Twitter account.