Nearly bought it, but then something came to my mind. European banks (incl. CH) have lost more than 100 bn $ recently on dubious credit based assets - and the losses are only a fraction of the investment and we speak about banks, not about hedgefunds, which were also in this business. I know even privately people who have invested in US real estate.
So there is lots of evidence that there was a lot of private money inflows into the US before summer 2007. I have strong doubts that Europeans were buying back more Eurozone assetes than Americans bought new ones.


Der Amerikaner ist die Orchidee unter den Menschen
Volker Pispers