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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: NOW who wrote (47245)12/13/2005 10:47:00 PM
From: GST  Read Replies (2) of 110194
 
They won't put themselves out of work. The bottom will fall out of the credit market because we simply become such bad credit risks that the cost of doing business with us demands a higher risk premium. They are no different than any other slum landlord when the rent does not get paid -- they will toss us into the street. The idea that they cannot afford to collect on the trillions in IOUs we write is amusing, but hardly the stuff of real life. The middle class in China will in a remarkably short time exceed the middle class in the US -- their middle class will have money in the bank. Our middle class will be waiting nervously in the bank waiting room, praying that they will give us another loan.
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