My OperaThe Selling of America
Saturday, January 19, 2008 7:00:26 PM
Last year, foreign investors poured a record $414 billion into securing stakes in American companies, factories and other properties through private deals and purchases of publicly traded stock, according to Thomson Financial, a research firm. That was up 90 percent from the previous year and more than double the average for the last decade. It amounted to more than one-fourth of all announced deals for the year, Thomson said.
The depressed stock market, cash-strapped financial companies and enfeebled dollar are making American assets and investments highly attractive to overseas investors. It's all part of the price of living beyond your means, as America has done for a long time now. What it will all mean in the long run - who knows? But it is clear that the United States global financial dominance is eroding.
All things must pass.
