i'm still looking at a bigass meltdown of everything..
merrill-lynch just looked at a US$30 billion loss this year due
to the sub-prime thing..
UBS, bear stearns, citibank and a whole lot of others also lost
billions...
the US economy is in denial mode...
they project 2 million people to lose their homes in the US to
foreclosure this year...
with that, the US economy goes to shit...
which effectively takes a huge chunk out of the PRC economy
because the US are doing a lot of consuming...
and with that, the whole world starts to sputter...
the other places are not protected from the mess either... look
at Northern Rock.. and now, the central banks are throwing money
into a black hole while the knee-jerk action would be to tighten
the hell out of everything, especially lending for housing... look
for construction to take a hit too...
in the midst of all this mess, is the food and fuel crisis.. and
climate changes.. and.. you get what i mean...
i think there will be one hell of a hugeass recession soon..