I believe the so-called mortgage crisis in America is really no crisis at all. And I offer some collective wisdom of the ages to prove it.

Home foreclosures? Not so bad.

You can never go home again, but the truth is you can never leave home, so it’s all right. – Maya Angelou

Predatory lending practices? Like it’s something new. We are, after all, a nation of capitalist Christians.

The rich ruleth over the poor, and the borrower is servant to the lender. – Bible

Inflated home prices? Put it in context.

To gain that which is worth having, it may be necessary to lose everything else. – Bernadette Devlin

Financial losses by investment institutions? Builds character.

The real measure of your wealth is how much you’d be worth if you lost all your money. – Anon

As both a homeowner and investor, I see nothing but opportunity.

The Chinese use two brush strokes to write the word ‘crisis.’ One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger – but recognize the opportunity. – Richard M. Nixon

So…

THE Chinese Government has brilliantly exploited the greed inspired US sub-prime crisis

China Investment Corp (CIC), the nation’s state-owned forex investment firm, said late Wednesday that it has agreed to invest $5 billion in the No 2 US investment bank Morgan Stanley.

China Investment Corp., formally established in September 2007, was created by the Chinese government to invest a portion of its $1.4 trillion in currency reserves. It is a state-controlled sovereign wealth fund.

It must be karma. Americans send hundreds of billions to China via trade deficits yearly and they send some of it back. And some people say communism is dumb.

- Herman

This entry was posted on Thursday, December 20th, 2007 at 10:18 am and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.