scootie2008

The Shedlock-Schiff Affair: A Chronicle

Schiff called the collapse but what happens after is still open for debate. Even if he is proven right in the future if his timing is wrong he won't profit. "The Market Can Stay Irrational Longer Than You Can Stay Solvent"


Also in response to:

"Look at it this way.

Two businesses went out of business:

Asia (who has money in the bank, savings, burgeoning industry)

Western Civ (who has debt at every level, no savings, collapsed industry)
How does this end up?"

Look at it this way, we exported pieces of paper, and they exported pieces of plastic. Do you really think that excess TVs and Pokemon action figures or other lead painted toys constitute 'value'? The excess crap that the leveraged borrowers were buying was non essential and in a down time it will be worth less or worthless.