Get ready to work for Chinese, Japanese, Saudis -- and that's the good news

[HamdenRice]

There seems to be only one medium term solution to our economic crisis -- there is going to be a firesale of assets to those countries that have been piling up dollars and US treasuries, and that also have a strong interest in preventing the complete collapse of the financial system.

It will be somewhat like a corporate workout. The equity holders (stock owners) lose almost everything, and the bondholders come in and become the equity owners.

We've already seen this begin with the massive prop up of Citibank by Middle Eastern money. The Chinese are sitting on a trillion dollar mountain of US dollars and treasuries and can no longer afford to see these financial assets depreciate in value.

The only solution is that we are going to have to get very flexible about who owns our real assets -- our banks, corporations, ports, infrastructure and even medium and small sized businesses.

This really isn't such a bad fate. We went through this during Poppy's reign when it was mostly Japanese investors and institutions who swept in and purchased everything from movie studios to prime Manhattan office towers. We went to work for them for a decade and slowly worked our way out of being colonized.

The same is going to happen now, but on a more massive scale.

[Bonobo]

1. Those are better employers than us. The Japanese, at least!

The bonuses alone make it worth it! I am so ready to work for the Japanese!

[HamdenRice]

2. And better managers. I'm looking forward to business models

I'm looking forward to Chinese, Japanese and European business models that are based on something other than looting, which is pretty much all US corporations have been doing here for the last seven years.