As long as the Chinese continue to buy MBS's…Then there are thousands of banks willing to extend credit to credit risky people for a few seconds….Thats how long it takes until the loan/mortgage is grouped into a portfolio and then sold on the market to unsuspecting Chinese/foreign investors……pretty soon theyre going to wise up and dump all of that junk for a serious discount…….For such a cerebral ethnic group as they are touted to be, I am not seeing "smartness" from Asia on this economic front…..Maybe greed is as strong or stronger in the Asian DNA as it is on the occidental….? Hmmmm…..
I have a sneaky feeling that the coming war with China is already being fought right now…only the strategy is economic and the battlefield is on Wall Street. The coming real estate/debt crash thats coming will financially ruin China, ……and not even a shot has been fired….Better than Iraq by far.
Maybe a swell today, off to wax the stick and slide a few….
