Chinese & others bought debt instuments/prefered shares like Lehman Brothers Holdings Inc. LEHP
52-Week High 1269.53 52-Week Low 2.00
(09/15/2008)Prior Day’s Close 3.10
They are taking it in the shorts now along with everyone else and will get pennies on the dollar. Our kids won’t be in servitude to the chinese, or anyone else. This is the proverbial catching the tiger by the tail. They let go and quit buying our debt, we will not buy their export crap.
I hope you are right!
However, which position would you rather be in?: the one of owns the debt and makes all the crap the other consumes, or the one in debt to their ears who lost much of their capacity to make anything.