Chief Economist at the PBOC Calls for Action Against ‘Excessive Bubble Expansion’ in Property Sector

Well, this is refreshing. Someone had the balls to call China’s property market a bubble. And guess what, he’s the fucking Chief Economist at the PBOC!

Unlike our Central Bank, who likes to shroud their statements with smoke and mirrors, riddles and stupid statements filled with misdirection, Ma Jun gives zero fucks and is telling you the fucking bubble is dangerous is a risk to the financial system.

“Measures should be taken to put a brake on the excessive bubble expansion in the property sector, and we should curb excessive financing into the real estate sector,” Ma Jun, chief economist of the People’s Bank of China’s research bureau, said in an interview with China Business News. A third of the financial-system leverage added over the past decade has come from the surge of housing prices, Ma said.

In case you’re unfamiliar with China’s bubbling debt situation, you might want to read this, this and of course this.