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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 375.93-1.8%Nov 14 4:00 PM EST
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To: Chas. who wrote (66880)10/6/2010 10:57:43 AM
From: Hawkmoon  Read Replies (3) of 217785
 
So our mortgage meltdown financial crisis is a diabolical Chinese scheme to support Chinese exports...???

I wouldn't go so far as to directly blame China for our mortgage meltdown, but they helped to lay the foundation for what made sub-prime and mortgage securitization possible.

And as Carranza pointed out, it's not just a Chinese model. Japan and Korea and other Asian nations have done the same thing. But we could "handle" letting Japan and Korea do it because they are allies and we have aligned interests (for the most part).

But China is different. They are not our ally. They are our rival. And that's ok, so long as that rivalry remains "friendly" and mutually beneficial. It inspires both parties to compete and not become economically stagnant. Same with Europe.

But this is manufacturer (vender) financing.. Of that, there is no doubt. It's an Asian tactic to arrange wealth transfer..

In fact, it's a lot like what a leech, or mosquito does when they suck blood. They inject an anesthetic (buying our debt) in order to deflect from, or render us indifferent to, the fact that they are draining our wealth to support their economic organism.

Again, we could "manage" Japan, because we have common interests. But China is not an ally, so we shouldn't be treating it in the same manner until such a time as our interests can clearly align.

Hawk
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