Threethirty
I think the difference between you and I is, where I see "c0ck-up", you see conspiracy. However, where we do agree is the acknowledgment of the urgent need for Entitlement Reform. Obama is never going to agree to that and therein lies the problem.
To the relief of Captain Dart I will attempt to bring this thread back to base. It is argued the Hong Kong Property Market is fuelled by the supply of plentiful cheap money. This cheap money comes in no small part from the issues we have been discussing. Whilst everyone has tuned out of our discussion, I predict that very soon people will adopt in their lexicon two phrases, "sequestration" and "Debt ceiling". Whilst "Fiscal Cliff" became popular in late December these two issues have the potential to drop some pebbles in the water, the ripples of which will be felt in Hong Kong later in the year.
I note in the news today Fitch Credit Ratings agency is already positioning for a downgrade of US Debt. Those HIBOR mortgages may start to get slightly more expensive soon and the HSI may have a few wobbles coming its way.
Last edited by Liam Gallagher; 30th Jan 2013 at 09:50.