I've posted many times about the AU and UK markets

[Spartacus]

and I wondered if their bubbles lasted longer and went to higher extremes, why would the US bust be worse?

http://www.dailywealth.com/archive/2...007_feb_02.asp

[jk]

Re: I've posted many times about the AU and UK markets

the u.s. consumer is still the locomotive of world growth. the oz and uk markets underwent correction while the u.s. economy was [is?] still growing relatively strongly, along with strong growth in china, much of asia, and even some growth in the eurozone. if the u.s. consumer fades there goes the u.s. economy, the chinese economy, the other asian economies, etc.

summary: the u.s. housing bubble is/was a much bigger deal for the global economy than those of the u.k. and oz.

[Spartacus]

Re: I've posted many times about the AU and UK markets

All true.

The ongoing AUS & UK experience just makes me more skeptical of the "debt is just too, too high"(argument from personal incredulity, cloaked in more certainty than warranted) analysis .

When Mr. Chancellor (author of the great "Devil Take the Hindmost") wrote just before the recent UK housing slowdown that credit had finally gone simply too far, I mostly agreed - just mostly - I was still a little skeptical.

I guess I'll do another flip-flop back onto the inflationist side, after inching closer over the last few months to the deflation camp.

the u.s. consumer is still the locomotive of world growth. the oz and uk markets underwent correction while the u.s. economy was [is?] still growing relatively strongly, along with strong growth in china, much of asia, and even some growth in the eurozone. if the u.s. consumer fades there goes the u.s. economy, the chinese economy, the other asian economies, etc.

summary: the u.s. housing bubble is/was a much bigger deal for the global economy than those of the u.k. and oz.