Richard Crenian Blogs
December 10, 2008
“You Gotta Laugh!”
You’ve got to laugh about the story I read today on the Globe and Mail website a few minutes ago.
The heading? “Cash-rich Chinese to tour US on house-buying trip: organizer………..”
I am not making this up.
They are travelling to buy foreclosed homes. There are 300 potential buyers.
What happened? Isn’t China the place where poor people live? Where if you want goods manufactured cheaply you go and get it even cheaper?
Isn’t this the place that had no mortgages, where they have a high rate of savings and people work 24-7?
Ahhhh…..doesn’t that remind you of the old days, where you only bought what you could afford, you worked like a dog in whatever you did, and you saved for a rainy day?
Wait, isn’t this the America of fifty years ago?
The Chinese dragon finally woke up and now rich with cash, they are buying homes, businesses and oil fields and companies, because they can?
The roles have reversed and now the American Eagle is fast asleep with the rest of the world catching up!
How do you make sure that doesn’t happen to us? Invest smart, don’t throw away your money and make sure your investments are paying cash flow. You don’t have to take chances and risk your hard earned money. Slow and steady wins the race!