So Farewell
then
New Century
Financial.
You're implied yield
was 452.38%
before
it was ZERO.
You lent
to those who
might not be able
to pay.
And they
Didn't.
The Laws
of prudent
lending, were,
one presumes,
apparently
were not so
NEW.
(with apologies to EJ Thribb)
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
ReplyDeleteMachinery 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
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