Credit Fuelled US Economy Becoming Like Soviet Union

Posted by Bill Bonner on Sep 28th, 2007

Now we’ve finally figured it out. We were sitting in a pub, listening to a crazy woman. All of a sudden, it was clear…what went wrong with the US economy, we mean.The dollar has dropped so low that America is becoming a shopping paradise for foreigners. Of course, we’ve been predicting that foreigners would buy up US assets…

Already, we’ve seen Arabs make bids for the NASDAQ…and a big chunk of the buyout-firm Carlyle. Poor Carlyle took a hit last month. It made bad bets and lost 24% of its assets. So let’s hope Abu Dhabi got a good deal for its billions.

What’s going on in the stock market? The Dow rose again yesterday – nearly 100 points. If there is a recession coming, the stock market doesn’t see it. What’s wrong with investors? Are they blind?

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