[jluetjen]

I happened across the following comment on CNN today. I guess not all of the assets which have been bought up by foreigners turned out to be such good deals. To me it sure looks like the "weak" dollar is working.

Shares of Bank of China dropped 6.4 percent in Hong Kong after the South China Morning Post newspaper reported that the bank is expected to announce a "significant writedown" in U.S. subprime mortgage securities, citing unidentified sources. In Shanghai, the bank's stock declined 4.1 percent.

Note that while the US stock market has dropped 9% so far this year (3 weeks), that the rest of world is faring worse:

Since the start of the year, Japan's Nikkei index has declined 13 percent, while Hong Kong's blue-chip index is down more than 14 percent. Even China's Shanghai index - which nearly doubled last year - has fallen 6.6 percent over the same period and nearly 20 percent from its all-time closing high on Oct. 16.