29 March 2007

The China Syndrome--Financial Meltdown

charles hugh smith-Weblog and wEssays: "The 1979 film The China Syndrome took its name from the darkly humorous notion that a nuclear reactor meltdown in the U.S. would burn straight through the Earth to China.
(wikipedia entry on The China Syndrome)

Nowadays, the idea that a consumer-spending meltdown in the U.S. could trigger a subsequent slowdown in China's red-hot economy is a given. But perhaps 'The China Syndrome' works both ways, and a meltdown of China's speculative financial bubble will trigger a meltdown in the U.S.'s debt-driven speculative bubbles. "

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