Are Chinese banks hiding “The mother of all debt bombs”? “Financial collapses may have different immediate triggers, but they all originate from the same cause: an explosion of credit. This iron law of financial calamity should make us very worried about the consequences of easy credit in China in recent years.” Undoubtedly Bush’s fault.
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So much for the emerging Asian markets theory.
The most popular saying in today's Chines Ghost Cities?
"I see dead people."
I blame Taft.
As you should.
Funny how for years we have been worried about being surpassed by China when the real fear is that they are likely going to experience a financial collapse that is much much worse for the global economy.