Monday 5 May 2008

Global ... or US meltdown


"There's going to be more pain." (WARREN BUFFETT: the world's richest person, warning that global financial markets still face further losses from the credit crisis)

OK, so the planet will be affected, but isn't this in fact mostly only a concern for the USA? It would be kinda nice to hear a few yanks say something like "I think the chooks are coming home to roost in our all American 100 trillion dollar deficit." instead of implying that whatever is their problem (in this case bankruptcy), is by implication a global problem. It might be a problem to varying degree to other economies that are closely linked to the USA, but surely there are a lot of countries that are not in marching towards the cliff in terminal lockstep with Uncle Sam.

OH, OK, so Warren is not predicting anything so dire. Fair enough, he has to keep a brave face doesn't he. After all he has quite a few pesos riding on not panicking the horses, doesn't he.

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