China says it has too much $ as foreign reserves surges past $3 Trillion.

[newguy05]

Quote from MKTrader:

That had nothing to do with a real free market. That was a combination of Fed intervention (artificially low interest rates); gov't and quasi-gov't (Freddie, Fannie, CRA, etc.); and crony capitalism (anticipated bailouts, DC/Wall St. connections, etc.). There's no way that would've happened without the said players setting up the preconditions for a housing/derivative bubble.

right, so it's not a real free market either. pot meet kettle.

 

[MKTrader]

Quote from newguy05:

right, so it's not a real free market either. pot meet kettle.

Exactly. So this isn't pure "capitalism." Corporistism, crony capitalism, soft fascism/socialism, etc. can all describe aspects of it. But the "pot meet kettle" is a non sequitur if I ever saw one.

 

[newguy05]

Quote from MKTrader:

Exactly. So this isn't pure "capitalism." Corporistism, crony capitalism, soft fascism/socialism, etc. can all describe aspects of it. But the "pot meet kettle" is a non sequitur if I ever saw one.

It was directed at the guy above who was saying how china's economy/market are all fake and government controlled and will collapse, us is not much different, hence the pot meet kettle comment. The only difference is china has the storage to weather the crisis.