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Old 03-08-2014, 03:33 PM
Danny B Danny B is offline
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Join Date: Oct 2012
Location: L.A. Ca.
Posts: 4,049
Problems in China

We all know that the Western banking system is a rip-off for the average person. "The Chinese have essentially “replicated the entire U.S. commercial banking system” in just five years"
The Chinese have a racial gambling streak that is way too optimistic. They have gone way overboard on credit creation.

"Chinese Business Wisdom argues (via China Gaze) that waves of bankruptcies are striking in 10 Chinese industries: (1) shipbuilding; (2) iron and steel: (3) LED lighting; (4) furniture; (5) real estate development; (6) cargo shipping; (7) trust and financial institutions; (8) financial management; (9) private equity; and (10) group buying."
Chinese banks have inflated at 18 times the rate that U.S. banks inflated.
China Is Crashing … As Predicted | Zero Hedge
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