I find it rather insulting when non-Americans think they know what's going on here. While there is an obvious housing bubble don't pretend as if you know the American market or American families.
The resiliance of the USA is amazing and we are the #1 economy in the world. Don't you forget that.
http://en.wikipedia.org/wiki/List_o...es_by_GDP_(PPP)
America is 20% of the entire worlds GDP.
America is the #1 importer in the world.
http://en.wikipedia.org/wiki/List_o...ries_by_imports
That means if we stop buying ....the WORLD economy collapses.
I can spend as much as I want...I can rack up thousands..hundreds of thousands in debt...and guess what...it doesn't matter. Debt is a joke. Country debt is an even bigger joke. Money is fictional. When it comes down to it...we can just tell people to screw off and not pay. It's like collectors that call...you just laugh at them and hang up.
Bah...
