I have argued for quite a while that QE will not and cannot stop, at least on anything other than a temporary basis. The rationale for my position has been [...]
China
Dec 022011
The Daily Bell provides an overview of China’s real estate market which they (and others) claim has already collapsed. This collapse is expected to bring down the Chinese economy and what remains of the world economy.
Here is an excerpt from the article:
And here is some of the text that accompanies the video below …
Chinese Vice Premier, Li Keqiang, in charge of the real estate regulation, said on Nov. 25th that China’s real estate market is at a critical stage. Even with a decline in real estate transactions, the government is continuing to cool down the housing market.
According to a New York Times report, 1/6 of luxury houses in Shanghai, 1/4 in Beijing and 1/3 in Shenzhen are empty. The ratio of empty houses in China has surpassed the international warning standards. The New York Times questions whether China’s real estate bubble has burst.
… Xie Guozhong says China’s bad economic situation in recent years has been down to real estate issues. When China’s real estate enterprises close down over the next few months, if the government would save the enterprises, this would impact China negatively in the long run, once again, confirming that China’s money-making model is stealing money away from the government and the banks. The current economic model offers China no way out.
Nov 272011
Of all the worries we have, China is supposed to be the possible bailout savior for Europe, the continuing supporter of US deficit spending and the growth engine for the world during these difficult times. Not so, according to Matthew Robertson:
China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.
Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.
According to Mr. Robertson, Professor Lang is unusually outspoken for an academic, especially one located inside China.
Robertson states that Lang bases his conclusion on several factors:
Lang’s assessment that the regime is bankrupt was based on five conjectures.
Read the full article to understand Robertson’s take on Professor Lang’s position.
Sep 122011
Charles R. Andersen has an interesting comparison on various country GDP measures. The US GDP is approximately 50% larger than China’s. On a per capita basis, the US is almost 7 times larger than China. However, China has already surpassed the US in manufacturing and is 46% larger.
If You Thought 2008 Was Bad ….
China, economy, Fed, Government, Inflation, Insolvency, Media, Rogers
Jun 132011
Jim Rogers remarks on our absurd economic policy of devaluing our way to bankruptcy.
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