DISQUS

AMERICAblog: Asia could see widespread credit defaults soon

  • vkobaya · 1 year ago
    OT:

    GOP says Obama 'soft on crime'
    By KATHLEEN HENNESSEY (Associated Press Writer)
    From Associated Press
    October 22, 2008 9:57 PM EDT

    Yep! True! That I have heard of Obama has yet to support impeachment of Bush/Cheney or prosecution of McCain/Palin. Nor do I expect him to do so if he wins the presidency. Disgusting!
  • cosanostradamus · 1 year ago
    .
    I agree, our economic troubles are far from over: Asia has been keeping us afloat. Ulp!

    Do you agree that the only good Muslim/Arab is a dead one?
    "SOLDIER, HERO, MUSLIM, AMERICAN"
    .
  • bill__free · 1 year ago
    Sometimes I can't believe why things go over peoples head. Palin got $150,000 in clothes. Now they say that they were always going to donate the clothes to charity. Just what charity has people that need donations of designer clothes? Are the CEO's of AIG or Lehman brothers in need of clothes for their family? Are the clothes going to be donated to charity and end up on the backs of someone really in need? will we see someone at a shelter wearing an outfit that Palin wore?
  • Asterix · 1 year ago
    Headlines you thought you'd never live to see:

    Greenspan Urges Tighter Regulation After `Breakdown'
  • lucky hussein · 1 year ago
    thx. what's next? he admits ayn rand is bs? what a f-ing phony, sick, bastard. he pushed structured financing all the way - claimed a housing bubble "most unlikely". he made a lot of people really rich at the expense of the rest of us.

    approx quote by greenspan: "..these are very sophisticated instruments used by highly knowledgeable people..the market will regulate itself..etc"

    regulators are not in place to 'limit the free market' or 'handcuff the capitalists because that's what the socialists want'. they are there to keep people from stealing. f-ing a-holes..
  • Mike_G · 1 year ago
    Japan was brought down in the 90s by its rickety financial system.
    China's financial system is even weaker, more riven with politically-motivated lending, vanity projects, abysmal risk management and a turbo go-go short-term profit mentality, even more than Wall Street.
    The country has not been through a substantial downturn since they went capitalist, so there's little institutional knowledge or sense of caution to prepare for lean times and minimize the damage. It's going to get very rough for them economically. And social upheaval may compound the problem -- there have been a lot of expectations raised and social tensions over corruption and inequality sublimated by the continuous growth which is coming to an end.
  • davespicer · 1 year ago
    Bubbles don't crash and burn, they pop - then there is a long, long fall, which, like Butch Cassidy said, will probably kill you.