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  • letxequalx03 letxequalx03 May 17, 2010 8:33 PM Flag

    But Greece has only about 1% of the Worlds population

    You people just don't get it. Greece is a tiny piece of a bigger puzzle. The problems in Greece are the problems in Spain, are the problems in Portugal are soon the problems of the entire EU.

    The entire EU is going into recession on this fiscal crisis, and stiff austerity measures will have to be enacted which will drastically cut spending and economic activity in the entire EU.

    Guess whose economy is dependant on exports to the EU? CHina. The biggest market / trading partner for China's highly EXPORT dependant economy is the EU.

    Then you have China's phony growth numbers based on govt stimulus jobs building out 10 billion square feet of office space no one wants or needs, shopping malls with no stores, et al.

    China is a growth engine LONG term but headed for a huge retraction SHORT term, and the PGM sector (not to mention all kinds of other global economy sectors) will be crushed.

    We'll see a year from now whether CHinese auto sales are still soaring. My money, yes my ACTUAL investmenr money that has now been sidelined as of last month, says NO.

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