主题：2012 大选周记 之一 -- 切地雷

fell from peak to low point, it was late 1960s. It took it more than 12 years to come back. The foot of the trouble was the loose monetary and fiscal policies by Kennedy and LBJ.

Before then, there was the 1929 recession, which almost destroyed the nation. It took more than 15 years + WWII to come back to the normal track.

Wait and see. This downturn for America will take a bit longer, 7-10 years will be normal, but fundamentals are still not fully corrupted there.

I know everyone has his or her bias. On this forum, it is a taboo to criticize China. But facts are facts，and I have friends in banking, in States, Canada and China, and we often chat on various issues. I AM NOT SAYING CHINA WILL COLLAPSE. But big slowdown is inevitable and its banking system has ticking bombs there. 就房地产的问题而言， 中美之间不过是五十步笑百步。Wait and see, time will tell.

Actually even Canada is sitting on a potential housing bubble, but the trinity of Flaherty-Carney-Dickson is managing everyther with great skill.