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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: TobagoJack who wrote (65081)7/2/2006 6:22:33 AM
From: GST  Read Replies (1) of 110194
 
<It is not as if the rest of the world will stop improving living standards just because some spendthrifts decides to commit financial suicide. >

I agree with the entirety of your post. I have never seen America seem so utterly lost in the wilderness. China, with all its many deep-seated flaws, knows where it is going. India is gathering strength. We are wandering from the center of the world economy to the periphery. Others are inching towards center stage. I could never have imagined such a weak America -- I could never have imagined that we could so easily squander our wealth. People on this thread consider money supply and housing prices as central issues. Both are merely superficial symptoms of our inability to adjust to a new and much larger and more complex world of growth, scarcity and environmental damage. Resources are scarce and the environmental damage done by resource demand growth is real. But these issues are beyond what we seem willing to face and deal with. They will be faced by others, including China, and that will be to China's benefit. We on the other hand seem destined to ignore the real issues.

This thread seems only able to grasp the superficial changes taking place -- rolling asset bubbles. But our cities are not unlivable because of interest rates or money supply. They are unlivable because of water and energy supply -- and that holds true especially for the entire southwest. I pity the poor fools who own houses so large that water shortages, electricty rates and the cost of commuting will make entire cities uninhabitable.
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