A fellow conservative disagrees with me.

[Swamp Fox]

Paul Krugman acknowledges that the Japanese investment scare never materializes, but he says that the current Chinese buying spree is different, because the Chinese aren't buying white elephants the way the Japanese did.

But the Chinese are buying oil companies when oil is at an all-time high, just as the Japanese bought the Rockefeller Center when real estate was booming. And, just as Japanese companies fell flat on their faces, from an overheated economy going bust, so too will the Chinese fall flat on their faces when their economy crashes.

Comments?

http://www.iht.com/articles/2005/06/27/opinion/edkrug.php

[ethics]

You lost me at "Paul Krugman".

[Swamp Fox]

Say what???

[ethics]

Krugman is more wrong than right. Unfortunately, I tend to agree with him on this issue, which will probably mean I am wrong.

[Stiofán]

Paul Krugman acknowledges that the Japanese investment scare never materializes, but he says that the current Chinese buying spree is different, because the Chinese aren't buying white elephants the way the Japanese did.

But the Chinese are buying oil companies when oil is at an all-time high, just as the Japanese bought the Rockefeller Center when real estate was booming. And, just as Japanese companies fell flat on their faces, from an overheated economy going bust, so too will the Chinese fall flat on their faces when their economy crashes.

Comments?

http://www.iht.com/articles/2005/06/27/opinion/edkrug.php

Stanley, Krugman is known as about the farthest lefty the media elite has produced. Classifying him as a conservative is a joke, right? A sample of his economics. (http://www.nationalreview.com/nrof_luskin/kts200406080847.asp)

[Swamp Fox]

Oops - I must have been thinking of Charles Krauthammer - there's a "k" in both their names, hence my confusion. :)

I guess it's good to know Krugman is a liberal - now I can disagree with him, knowing that history will prove him wrong, as it has always proven liberals wrong. :)