Michael Pettis Cautions China's Hidden Debt Must Still Be Repaid | Zero Hedge: "Five or six years ago, a few skeptics first started pointing out that the credit dynamics underlying Chinese growth was creating an unsustainable increase in debt. This, they warned, would ultimately undermine the banking system and cause growth to collapse if it were not addressed in time."
THIS ADDRESSES CHINA'S VERSION OF OUR NEW BILL - HR 3293 THAT IS TRYING TO GET APPROVAL.
READ POST BELOW AND GOOGLE THE BILL. IT ALLOWS THE GOVT. TO DO JUST WHAT CHINA HAS DONE OVER THIS ENTIRE RUN UP IN THEIR STOCK MARKET.
THE ONLY DIFFERENCE IS THAT THE CHINESE ARE A HIGHLY PRODUCTIVE MANUFACTURING NATION WITH AN ULTRA HIGH SAVINGS RATE. NOT QUITE THE SCENARIO HERE WHERE WE MEASURE ECONOMIC HEALTH THROUGH A CONSUMPTION INDEX WHILE DISREGARDING HOW IT CORRELATES TO SAVINGS BEFORE SPENDING
'via Blog this'
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