Didn't know where else to post this but a little history. I hope this helps.
Older_Wiser
· 1 year ago
Well, Asian markets are down this am.
Would that have anything to do with Paulson announcing that none of the $700 billion bailout would be used to purchase toxic assets? Somebody is going to take that hit; consumer are already taking it through their own overextension in credit and falling value of assets, most of which is their home, overpriced, borrowed on, and taking a hit on their personal equity which will never be recovered.
cosanostradamus
· 1 year ago
. Golly! We're REALLY in trouble if the Chinese don't buy all the crap that China makes!
Wait... They can't afford the crap they make on their crappy salaries.
Hm. I sense a flaw in this global economic system. Who's going to make crap the Chinese can afford?
All Comments
Didn't know where else to post this but a little history. I hope this helps.
Would that have anything to do with Paulson announcing that none of the $700 billion bailout would be used to purchase toxic assets? Somebody is going to take that hit; consumer are already taking it through their own overextension in credit and falling value of assets, most of which is their home, overpriced, borrowed on, and taking a hit on their personal equity which will never be recovered.
Golly! We're REALLY in trouble if the Chinese don't buy all the crap that China makes!
Wait... They can't afford the crap they make on their crappy salaries.
Hm. I sense a flaw in this global economic system. Who's going to make crap the Chinese can afford?
And who can afford to buy our U.S. crap?
FRIEDMAN!!! GET IN HERE!!!
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