As US sinks, Asia unable to swim

[whirlygigspin]

By Walter T Molano Asia Times Aug 24, 2007
http://www.atimes.com/atimes/Asian_Economy/IH24Dk01.html

"The US economy is down by the bow, and the prognosis does not look good.
The final outcome is inevitable, and no one (outside the United States) is really surprised.

However, how does Asia avoid contagion?... From a non-Asian perspective, this is a perfect opportunity for the region to catapult ahead. Young, well educated and vibrant, Asia is poised to take the poll position of the global economy. The easiest way to do so would be for China to allow full convertibility of its currency, the yuan. With the stroke of a pen, the US dollar would collapse and the United States would become completely irrelevant."

--very sobering

although the article does conclude full convertibility is not 'in the cards' near the end, it paints a very bleak time ahead.

[Submariner]

1. The idiot-in-chief has set our economy up for a fall

all so he could play war president.

My employer just notified me to stand by to relocate to the Panama Canal for a job assignment. I feel I'm leaving at an opportune time. I sense this economy is going to get shaken up bad soon, and I don't want to be around for it.

[madrchsod]

2. another"sky is falling" article

if china decided to do this japan would "fall" right along with everyone else. china is not going to do anything the main reasons are the olympics and the american elections next year.
if our economy is collapsing why is`t the japanese panicking, after all they hold 900b compared to china`s 450b.

[fasttense]

3. Seems everyone thinks the US economy is going to tank,

everyone but the US. People in the US are so accustomed to being soothed by the nursery songs of a wonderful economy sung by the US government that until the cradle falls, US residents are not going to believe it.

[Demeter]

4. As Far As Michigan's Concerned, The Economy Has Been In the Tank for Years

and nobody in DC gives a care.