If one reads enough, one can figure out that derivatives were the launch vehicle for the recent global credit bubble with real estate being the pinpoint target.
In bed with all of that was the CRU, Wall Street, big banks, The Fed, TARP, Porkulus, illegal immigrant, ACORN, Fannie / Freddie and 'housing boom' with the sub-prime mortgage orgy. The bubble has popped and continues to expel putrid air and the US taxpayer gets handed a major chunk of the bill.
I still see a major global economic crash on the near horizon to significantly out pace The Great Depression.
Why, because the US goobermint at all levels continue deficit spending and growth while US manufacturing still flees our borders....no jobs means no demand for goods or services.
A nation's true wealth is derived from domestic industrial production, domestic consumption of domestic goods and raw materials.
The state run media ignores the impending fiscal disaster from unfunded liabilities and larger payouts to goobermint retirees as the goobeermint feeds itself from my sweat and savings.
Ohhh....BTW, the FDIC is basically broke and Congress, the Fed, nor the Treasury are responding at this moment and more banks are going under. Thry refuse to response because the goobermint is having wet dreams over controlling 'all' the money from 8-10 huge banks.
Mind runs faster than the fingers these days....sorry
Thanks for the information. My impression is quite a few folks don’t understand the concern they should have about Dubai. Last year it was another major player who tipped the foreign markets that caused the run on the window. These guys are bigger, the question is do they have more control? I am doubting it as they are using the same group as GM to reorganize. Markets don’t like uncertainty.