China Shovels Money Into Its Too Big To Fail Banks … Again
Title link here. States around the world are trying to print useless money at any cost to save themselves from a fundamental issue of too much useless money printing. If it sounds paradoxical, that’s because it is. Who ever said the state was brilliant? The US has seen housing prices go up 25% a year in some overly heated markets. China has seen housing prices go up 25% a month for years. I met someone half a dozen years ago whose father was an officer in the Chinese military. He had bought a $200,000 house on a $4,000 annual income because he received special favors as a communist party member. That was six years ago. How much is that condo worth on paper today? You ain’t seen a real estate bubble until you see one in China. This is unprecedented in scope and scale. Imagine how much money had to be printed for this to take place? Take Federal Reserve policies and multiply them by 30x, 50x, 100x?
Another interesting story here. New trade agreements allows China to sue Canada to change its laws. More of that good ole state violence at work.
China faces its hour of truth. This is a nice look at what has been discussed over the years on here. It may show up as premium content that you have to register for. If so, simply type China faces its hour of truth into Google and the search result will give you free access.