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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (59447)4/25/2006 2:02:50 PM
From: GST  Read Replies (4) of 110194
 
LOL -- thanks Russ -- but so what? There is real estate speculation in China -- oh my gosh, what a surprise!! The issues with China and with us run far, far deeper than real estate. Real estate is just marginal activity run amok in search of a quick back due to leverage and the positional nature of real estate - same with gold. It matters very little whether or not real estate prices hold up in Shanghai or New York. What matters is what lies beneath the surface -- they are busting their collective asses building financial assets and human capital -- while we squander our assets and lead people to believe that Americans earn more money than people elsewhere because, simply put, they are American. Well the joke is on us. The future of stupid people who squander their money and don't bother to develop their minds to compete with the best in the world can easily be described -- poor. And that is where we are headed. The real estate bubble is a side show.
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