oh dear: US mortgage crisis goes into meltdown

[AtW]

you obviously know nothing about a post-industrial economy.

So called "post-industrial" economy is a baloon of hot air (like Enron) that is only held up because right now Western currencies are pretty high comparing to the 3rd world that can be exploited in almost the same way as it was during colonialism - not only they produce the stuff that is sold here, they also have natural resources: there is almost no need for the West right now, apart from perhaps technological achievements, but even that mainly happens in USA, and if you look at Japan they are already pretty good at it: this will all end as soon as the Chinese learn how to create new stuff rather than copy things.

Remember - you heard it here first.

[AtW]

Food for thoughts: when China issues order forbidding any exports of anything made there because they have got over 1 bln consumers there already, then what would happen with goods in shops? The shelves will be more empty than in USSR!

[milanbenes]

jeez, the third time today I've had to do this,


Alexey,

for cripes sake, would humbly admit you do not know what you are talking about and forego offering wisdom on a subject to which you are not familiar


for the record, let's think about what you said...


' there is almost no need for the West right now',


you dipstick, the east wants the the west to buy the tat they produce !
granted they don't want all the U$D forex which they accumulate which is why they try to use those acumulated U$D to buy western assets.

Here endeth the lesson.

I suggest, you use your wonderful search engine to findout what you are talking about

Milan.

[AtW]

As soon as internal economy is jumpstarted and overvalued foreign currencies drop down (because there is nothing fundamentally to support them) then the only export from this "post-industrial" economy will be Hollywood movies, and probably not even them.

Join your local survivalist course until it's too late.

[lilelvis2000]

In the old days any economic crisis in the US would hit the UK - nowadays the world is more diverse. Chinese and Indian money will bail us out. Interesting that we're going back to the 18th century in that repect - Britain as the hub of commercial trading.

Pardon? China and India will together form an immense trading block and won't need any of our cash. The UK will soon - in 50 years or so - be out of the top 10 economies in the world. What have we left to sell besides debt and investment brains?

[Sockpuppet]

As soon as internal economy is jumpstarted and overvalued foreign currencies drop down (because there is nothing fundamentally to support them) then the only export from this "post-industrial" economy will be Hollywood movies, and probably not even them.

You're forgetting. When Chinas economy is so large that they are able to start buying the tulip that they produce the wages will have risen along with expectations so they will no longer be able to produce is cheaply and it will shift to Aftrica.

[threaded]

Yes, that is the theory, but I do not believe it will apply in the case of China until after their next civil war.

[Back In Business]

Yes, that is the theory, but I do not believe it will apply in the case of China until after their next civil war.

Aaah Revolution - that will certainly liven things up a bit. However I don't think that the "peasants" will have enough sway in a prosperous and upwardly mobile China. I do think change is inevitable but the powers that be are still managing to keep control of that change.

[AtW]

it will shift to Aftrica.

I am not sure Africa's people will work as hard as Chinese for as little.