Bonfire of the Absurdities in News New Format

The real danger to the global economy: China

Forget Greece. Forget Italy. Forget “Occupy Wall Street.” The really ominous news right now? China. China has the mother of all housing and credit bubbles, and they appear to be on the verge of bursting. Pretend Obama is standing next to you giving a 5-hour speech with a bullhorn and put your fingers in your ears as far as they will go – when they burst, it’s not gonna be pretty.

This post was last modified on October 28, 2011

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Bonfire of the Absurdities: After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

View Comments (2)

poppajoe49 says:

October 30, 2011 at 5:39 am

They are already economically destryoing themselves. They are following our model of the last 100 years of progress and accelerating it 25x.
All we need to do is introduce Islam into China and watch it implode on itself.
CO2Insanity says:

October 28, 2011 at 6:05 pm

It's a race to the finish. Will they buy us first? Or, will be stiff them and bankrupt them first? Maybe it's a secret CIA plan. Borrow trillions then say sorry, we can't pay you, then watch them collapse.