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To: Real Man who wrote (98804)3/17/2008 10:56:55 AM
From: Alex  Respond to of 116950
 
Foreign investors veto Fed rescue..............

"Overall credit conditions could tighten into a slump (like 1930). It's the stuff of bad dreams.

Is this the moment when America finally discovers the meaning of the Faustian pact it signed so blithely with Asian creditors?

As the Wall Street Journal wrote this weekend, the entire country is facing a "margin call". The US has come to depend on $800bn inflows of cheap foreign capital each year to cover shopping bills. They may have to pay a much stiffer rent."

telegraph.co.uk