|
Yes, this mornings not look any better. Central banks are pouring cash into the markets everywhere. Where's this cash coming from? The analogy of a Vegas Casino is interesting to me. I was looking around yesterday trying to find who owns the "chips" that are flooding back into the "pits." All too often, in regards to the US, that answer is from Asia and the Middle East.
Someone on another thread was talking about how Japan went through tough times and one argument was they caused more problems by allowing the government bail out major players in their economy. I have no idea what or how Japan fared. What I do know is the Japanese don't owe everyone else a shit load of money. Their government doesn't and their people don't. It's simply not part of their culture. I spent time their, about six months, every Japanese person I ever met had money in the bank. If they made $100- $10 went in the bank and they lived on that $90 somehow. So I'd imagine if the Japanese government did end up bailing a bunch of private companies out they did it with their own money. We're not doing anything like that. Between Japan and China we owe nearly one trillion dollars. That fact alone sends alarm bells ringing in my head.
__________________
I used to drink to drown my sorrows, but the damned things have learned how to swim- Frida Kahlo
Vice President Starkizzer Fan Club
|