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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (88135)10/29/2007 4:55:18 PM
From: GST  Read Replies (1) of 110194
 
John, think about this for a minute -- many people believe that China cannot become a significant market because they have a high savings rate -- think about that idea. The truth is that China is a market with a lag time. Think about it -- they have actual money. And yes, they spend money -- they just earn it first. They are not inclined as we are to put a large part of their income into debt service. They put their money into savings and when they see something they want, they buy it -- with cash. The Idea that hundreds of millions of Chinese have cash and are spending it has not sunk in for most Americans. We still think you have to borrow money to spend money because we have so little money and spend a lot of our income servicing our debts.
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