Hello CB, On this ... siliconinvestor.com
<<OK, then I have you down for "no debt problem for China.">>
... if you do, you would be wrong, because, I posted ...
Message 18484329
China's govt debt is nicely offset by private savings, and therefore is even less of a problem, as it requires no one outside the country to do debt financing, especially given that the outsiders are apparently perfectly happy to take equity (and when they want out, they come to me for help).
... which is somewhat different than what you posted ...
Message 18484601
<<What I said, and went to a lot of trouble to substantiate, is that Joe 6 Pack's debt to disposable income ratio wasn't out of whack with other periods, in particular 1990-1991, which was, if you recall, a recession. If we've been doing it for decades without being much the worse for it, it may be a problem but we are able to deal with it.>>
... especially in view of one of your earlier postings and general flavor of many more postings, i.e.
Message 16079272
July 15th, 2001
<<Re: recovery. Recovery from what? All we've had so far is reversion to the mean. If this is as bad as it gets, name your firstborn son after Greenspan.-vbg- >>
I like to anticipate trouble, not wait for it to happen, because when I see it up close, it may be too late to save myself.
My belief is that (a) of course 'we' are able to deal with it, just as Argentina is doing, but (b) we are going into deep trouble, something like a depression, though (c) not exactly the same way as the period you are so familiar with.
Please do not ask me to define depression, because I will know it when I see it.
On ...
Message 18484601
<<That is so funny. US GDP per capita is close to $40K, China's is less than $1K, and y'all are lecturing us about savings? Maybe it's 'cause y'all see all the tacky crap we buy from China and elsewhere and figure we must be spending our last dollar.>>
Well, actually, I can be considered to be part of a small group of folks that is a subset set of another group numbering no more than 50 million and have, in the aggregate, USD 1.5 trillion of liquid assets, and so naturally have quite a few things to say about savings and such, and thus do, and this in no way constitutes a lecture.
I am also the survivor of numerous financial crisis and economic storms, and thus also have plenty to say about financial survival.
I do not need to delve deeply into 1929 to understand what happened, because, guess what, each and every time it is just a little different, but financially kills just the same.
I also do not take matters and events personally, and thus have a grand old time talking to <<y'all>>.
Chugs, Jay |
