Urbane Gorilla!

Emerging Markets: The New Spenders of the 21st Century

I like AlexR's cynical but poignant remarks. I too have lived in various countries and think that it is unlikely in the nearer term, that they will be able to replace the American consumer. For that to happen, they would have to generate their own internal class of buyers. That just doesn't seem to be in the cards immediately. I do have to disagree with his comments on American debt. If it was not for the countries that sell us products also lending us money, their economies would not have grown as they did. If you want to look at it this way, Rent-A-Center makes more money by lending than if they could only sell outright. Not only does that keep the store in the black, bit also the delivery boys, the manufacturers, etc.. However, badly managed credit always comes back to haunt you. So, if I am BofA, and I hang out on college campuses handing out and approving credit applications to every 17 year old there, I might expect a default or two. Who's the bad guy here, the 17 year old consumers, or BofA? I say they share the blame. In fact, if you are a lender, you might want to be careful of how much and to whom you lend.

Wise man say "He who looks for thief may see him in a mirror!" .... OK.. No wise man said that. I made it up....

jegan