China and India are importers of oil. There's more instability in any of the countries you've mentioned. The only way China is growing is from trade with the US. The world has to trade in USD there's no stable substitute not even Euros. I don't buy the housing bubble theory but there will be a slowdown just as their will be in other countries that have artificially grown. Cheap oil is becoming a thing of the past and the use of coal or other cheap energy sources will not fill the gap. Living standards are very low in those countries and they not very good place to live. Most Indians for example have health problems from their industry practices. You've got to rember a person that amps up on steroids eventially comes down from them and has to deal with it.
us needs to borrow 3 billion a day to stay in business. largest debtor nation in the world. nobody is buying usd on the worldmarket. so only way for us to stay afloat is print usd which =inflation, inflation means rates will continue to go up. we will see rates that will make rates in the 80's blush. most of you are too young to remember that. imagine paying 20% interest on your mortgage and consumer debt. one and done? how many times have we heard that now...its coming...... you have to understand that capital flows based on 2 things. 1.) safety 2.) return there is really little safety in the us and returns are becoming more lucrative elsewhere. there are 300 million middle class in china alone. imagine the demand that creates. there gdp is going to go up anpther 10%+ this QUARTER. The writing is on the wall. i am not fabricating this. it is happening as we speak. nobody wants to hold usd . russia diversifying out. china diversifying out. japan net seller of usd in june.every nation increasing reserves of gold. why? because of little faith in usd...