So, america's love of cash and low interest rates, has finally bit it in the backside huh?

America's love affair with spending money they don't have has come back with a big fat solid bite on the backside.
The credit markets are in a panic, cards like capital one are now DOUBLING the interest rates for many of their customers.
The sub-prime mortgage plan has now guaranteed bankruptcies will hit a all-time record. As will foreclosures.
And now, the Chinese, silent and patient until now, are beginning to wield the economic power they've been building up over the past few decades.
They have collossal levels of cash, most of it in US funds and they know how to use it.
Trust me, america has had this coming for the past little while. And I for one will sit back and laugh.

Give it a little time. The US economy always bounces back, and is still the strongest economy in the world.