Submitted by Reggie Middleton on 12/31/2009 - 10:42
China Dubai Hong Kong Housing Prices Housing Starts Japan Morgan Stanley None PIMCO Real estate United Kingdom Wen Jiabao
For all of those who feel China is going to take over the free world, just remember that when you blow a bubble (particularly a balance sheet bubble) it is bound to pop. The damage from the pop invariably does more harm than the boost from the bubble. It has always been the case, particularly when leverage is involved - which makes the impact that much more devastating. If anybody can attest to this, it should be us Americans (British, Spanish, Irish, those from Dubai, Japanese...).