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China in Midst of ‘Greatest Bubble in History,’ Rickards Says
“People making comments about bubbles possibly don’t have all the facts,” HSBC Holdings Plc Chief Executive Officer Michael Geoghegan said in Shanghai today. Regulators are in control of the banking industry, and have the ability to curb lending as needed, he said.
How powerful are the Chinese regulators you might ask?
ICE: Mortgage Delinquency Rate Increased Year-over-year in October
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From ICE: ICE First Look at Mortgage Performance: Serious delinquencies hit
17-month high while foreclosure activity remains historically muted
• At 3.45% ...
3 hours ago
5 comments:
China's zombie growth
There are about five times as many rivers in the US and five times as many cars…but China now has nearly as many bridges…three quarters as much road surface. But with easy credit, the connivance of local officials, and the blessing of the central government, it builds more.
That China zombie growth article was un-uplifting.
There are so many days that I just can't see how they will keep the current financial system afloat.
I don't see any way all of world's debt obligations can be met.
mab,
That China zombie growth article was un-uplifting.
I have relief for what ails you.
CBS News: Is China Building the Next Bubble?
But there are several key structural differences between our real estate mess and China's situation, which suggest it is simplistic to assume China's bubble must end in a U.S.-style meltdown.
We're just being all simplistic and stuff. No worries.
Of course, there is this part of me that thinks CBS News might be all simplistic and stuff. From 2007...
Credit Crunch A Problem, But Not A Crisis
Wall Street remains caught in a tizzy over a power outage in the credit markets. But Main Street is in fine economic shape, according to the latest reports out of Washington.
That Larry Kudlow, what a hoot!
Zombies could happen, I would refer all to World War Z and The Zombie Survival Guide for help (both by Max Brooks). If Zombies become real, swords are the next bubble, and I am well stocked!
Mark,
if you want to get a headache jump in on the money creation discussion on my site and Kid Dynamites. Crazy stuff.
GYSC,
http://www.youtube.com/watch?v=nHHVCOPGBFw
Great fun!!
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