Not just China. I think a lot of financial institutions worldwide are in the deep red but are hiding it by cooking the books. They use off-exchange trading like dark pools and put bad investments in shell companies on the other side of the world. Regulatory agencies are either blocked from taking action or they are bribed and in on it.
I don't know when or how this all blows up but I hope it does. You may have noticed that our market grows increasingly freakish by the day. Inflation is out of control, cost of living is out of control, wages are stagnant and have been for decades.
Either the market will blow up or at some point the torches and pitchforks will come out. We already have a homeless problem measured in the millions. I don't know why they aren't looting and pillaging yet.
$30,000 for a new car?
My mom watches house renovation shows and the prices are ridiculous. My favorite is this yard renovation show where they will spend $10,000 renovating the yard and suddenly the house is appraised at $50,000 more than it was before the renovation.
Where did that extra value come from? Nowhere. It doesn't exist. It's a micro-cosm of our entire economy. Numbers out of ass.
www.bbc.com
