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While we're on the subject, some more good news:

Twenty-four hours after I reported China’s announcement that China, not the Federal Reserve, controls US interest rates by its decision to purchase, hold, or dump US Treasury bonds, the news of the announcement appeared in sanitized and unthreatening form in a few US news sources.

The Washington Post found an economics professor at the University of Wisconsin to provide reassurances that it was “not really a credible threatâ€

CHEESE

[quote="boggob"]While we're on the subject, some more good news:

Twenty-four hours after I reported China’s announcement that China, not the Federal Reserve, controls US interest rates by its decision to purchase, hold, or dump US Treasury bonds, the news of the announcement appeared in sanitized and unthreatening form in a few US news sources.

The Washington Post found an economics professor at the University of Wisconsin to provide reassurances that it was “not really a credible threatâ€

I found it interesting and figured I would share.

BTW, Isn't GULP made in France?

A friendly fishing forum is probably not the best place to debate such a serious topic, or give out investment advice.

I have typed about 10 diplomatically phrased responses, but have not posted any, as my views on "whistling in the dark" may offend some people.

The article on China is spot on and you would be amazed at how many large US financial corporations, are only subsidiaries of overseas owners.
That is why the sub prime loan situation is impacting worldwide.

As of today 122 mortgage brokers have gone under since Dec 2006.

Some people are in a Depression......