China is the greatest construction boom and credit bubble in recorded history. An entire nation of 1.3 billion has gone mad building, borrowing, speculating, scheming, cheating, lying and stealing. The source of this demented outbreak is not a flaw in Chinese culture or character—nor even the kind of raw greed and gluttony that afflicts all peoples in the late stages of a financial bubble. Instead, the cause is monetary madness with a red accent.-China’s Monumental Ponzi: Here’s How It Unravels
Saturday, March 29, 2014
The Crisis is Not Over! A Conversation with Legendary Investor Jim Rogers
Posted by Nick
But of course, the Chinese economy is anything but free market.
at 5:54 PM