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Wow, talk about grasping at straws. You have to be insane to think that the Chinese are gonna replace American consumer demand.
Apr 30 20:26 pm
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All Comments by BadCompany »Cramer's Stop Trading! China Saves the World (4/29/09) [View article]
The Chinese value prudence and thrift as part of their culture. They simply are not going to consume like Americans. Compare the sense of entitlement of the median American woman to that of her Chinese counterpart.
In addition, China lacks the social safety net we have, here. So, they can't use Social Security as a rationalization for not saving.