2008
11.13
11.13
” While Africa clearly has a very high level of poverty with incomes of under $2 per day, there is a growing lower-middle and middle class that have jobs, cars, trips, vacations, eating out, new clothes and accessories….their banks and financial systems are in better shape than ours, as “they never bought our toxic instruments” – probably because there were too many eager buyers in the developed world. And while there may not be as many houses or banks as ours, their systems of mortgage financing are solidly asset based.” [The huffingtonpost]
No Comment.
Add Your Comment