Re: UBS's Subprime Hit Deepens....
Is it just me or there's a pattern that slowly but surely takes shape: the West's speculation-driven economy increasingly bailed out by the East's real/brick-and-mortar/anthill-like economy??? Makes sense, huh?
The West --that is, the US, Europe, and even Japan-- has come to a point where it can make more money only through gambling and speculating with derivatives and paper instruments --mortgages, energy futures, stock options, real estate, etc. while most, if not all, of its industry assets has been farmed out to the Far East where the real, sweaty, and even brainy, factory-based drudge is done...
Gus |
