another subprime victim, page-181

There's been a lot of discussion about this issue I guess I can see both sides of it but think its far too early to call an end to the resource boom. Its not clear that there will be (or is) a recession in the US. Its not clear whether China's economy will power on regardless. Its not clear that even a slowdown in China would lead to a drop in demand for resources.

If the Chinese bought 22% more cars last year, how much more oil will they consume this year? How about spare parts - I hear the driving standards are awful? And what happens next year if they only buy 10% more cars- its a compound figure?