Professor Mark J. Perry's Blog for Economics and Finance
Posted 10:33 AM Post Link
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Could be great news for us!The Japanese did something similar a couple of decades ago in our commercial real estate sector. Once commercial real estate prices dropped Americans bought many of the properties back at 10 cents on the dollar, resulting in a net transfer of wealth from Japan to the U.S.Nice to see someone else ready to do us the favor again.
Yep, noted that myself some years ago with regard to the Chinese hoarding of American paper.They'll do the same thing the Japanese did. Spend too much, too fast, and drive up the prices on what they are buying until the bubble bursts, then sell it all back for a song.The fact is -- Our Rich Bastards are smarter than Their Rich Bastards. One thing, among many others, that America does have is First Rate Rich Bastards.:oD
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Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.
Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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