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Richard's Remarks


Yesterday, I wrote about the giant credit bubble that we have all "enjoyed" since the end of World War II back in 1945.


I can't get the credit bubble out of my mind. I see it everywhere, on store signs, in bank windows, on TV, in flyers on windshields. It's ubiquitous and drilled into the conscious and unconscious minds of almost everyone on earth.


The Asians are new to the credit boom (actually, the Chinese invented paper money). The Chinese know about revolution and confiscation and the loss of assets. As a result, the Chinese people today save 25% to 40% of their income -- "just in case." The world's merchandisers are now well aware of the Chinese saving habit, and sellers are moving into China as fast as they can in order to grab their share of China's savings. China is now the economic engine of the world. Question -- ... Log in or subscribe to continue reading.

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