A Troubling PBS Update From China

Most people still don't generally understand what is going on in China.  There are some over the last few years who have started to gain an appreciation for the  massive real estate bubble in China.  To believe that is the extent of China's crisis is to think with your eyes.  We have said on here that reality is much more ominous - a capital bubble.   In other words, the mother of all bubbles.  I wrote before anyone in the financial community showed any concern about China that their  GDP could fall as much as 50%. Nothing has changed in what we wrote years ago.  In a land of massive corruption….. that makes the U.S. appear saintly, Communist China is nothing more than a mirage.  And that means massive volatility is headed to a China near you.  We are simply waiting on reality to show its face.