Monday, March 12, 2007

Sub-Prime Poetry v1.0

So Farewell
New Century
You're implied yield
was 452.38%
it was ZERO.

You lent
to those who
might not be able
to pay.
And they

The Laws
of prudent
lending, were,
one presumes,
were not so

(with apologies to EJ Thribb)


Anonymous said...

NEW was a skunk dressed up as a kitten, until it raised its tail. What I wanna know is: what's up with these high GDP growth figures of 5.5% for Japan, when shoppers aren't shopping and interest rates remain at half mast? Is it all export growth? And how stable is that with the US going into a downturn? OldVet

"Cassandra" said...

Machinery exports to China, residential construction, commericial real estate expansion, and continued service-sector growth (both household and commercial). PCE has, in my opinion, always been less important to Japan than the health and vigour of the world economy in general, and its,largest export markets in particular. After all when you;re a family of 4 living in less than 100sq mt, there are physical limits to consumption that are unlike those in McMansionland