Jim Glazen

David Richards: This Panic is a Buying Opportunity for Global Stocks

It's America's debt financed over consumption that has fueled global growth via imports for the last several years. As the Ponzi debt scheme unravels in the U.S. and the consumer bites the dust, global growth will suffer severely.

Until the rest of world starts consuming what they produce rather than exporting it to bankrupt American consumers, they will be at the mercy of Joe Sixpack who now can't even pay his mortgage.

Enjoy!

GE Plans To Shop Its WMC Subprime Mortgage Unit

gee, selling the subprime unit as that market is melting down sounds like great timing. Shrewd move Immelt. Buy high, sell low. What a bunch of morons.