I’ve discussed the Chinese debt problem for more than a year, if not more. The stimulus that China invoked in 2008, in an effort to fight against the American led deflationary vortex, has resulted in the greatest debt bubble the world has ever seen. China’s shadow banking system is somewhere between $2 to $4 trillion in size. Their non-performing loans are out of control. And their corporate debt leverage is outrageous — $18 trillion and growing — 70% of which are state owned companies.
Completely fucked.
Explain to me how this ends well?
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Who
Is it china, DB or saudi who is sell us bonds.
N.W.A.
Buy CHAD?
With six you get egg roll.