Re: This is the leading edge of the storm , Subprime MELTDOWN
- From: "ltlee1@xxxxxxxxxxx" <ltlee1@xxxxxxxxxxx>
- Date: Fri, 27 Jul 2007 03:35:10 -0700
On Jul 26, 11:17 pm, PaPaPeng <PaPaP...@xxxxxxxxx> wrote:
On Thu, 26 Jul 2007 19:31:08 -0700, kangarooistan
<kangaroois...@xxxxxxxxx> wrote:
Beginning in late 2006, the U.S. subprime mortgage industry entered
what many observers have begun to refer to as a meltdown.
Most people already say this back as far as 2004. We are not
American and need not get into the details as to what happens. There
is not anything you can do about. The only possibility of trouble is
if your government invested billions in ginne mae paper.
Read:
China shies away from US mortgage markethttp://www.atimes.com/
Despite a hard sell by US Housing Secretary Alphonso Jackson to put
more of its US$1.33 trillion in foreign exchange reserves into US
mortgage-backed securities, China is backing away from an investment
it once thought of as virtually risk-free. -Olivia Chung (Jul 25, '07)
Will there be a world recession? Not likely as China's economy is
still red hot and will keep producing the cheap goods everyone wants.
Perhaps with a meltdown in the US the price of oil and strategic
materials (metals, etc) may drop. We may even get cheaper goods. The
only strategy you need to follow is don't get into debt. The interest
rates will be very high.
One exit from the current mess is higher farm product price. China
would then
be able to pursue a strong yuan policy which will translate China's
economic growth into global economic growth.
.
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