Krugman’s Prophesy

Two years ago, writing in the New York Times about the inflating housing bubble and soaring American debt – with China’s central bank nearing a trillion dollars in U.S. treasury bond holdings –Paul Krugman made a comment someone should have listened to:

“These days Americans make a living selling each other houses, paid for with money borrowed from the Chinese. Somehow, that doesn’t seem like a sustainable lifestyle.”

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URI

Leave a comment

Line and paragraph breaks automatic, e-mail address never displayed, HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>