Chinese financial markets are melting down, and they may take the rest of the globe with them. From Bill Bonner at bonnerprivateresearch.com:
China’s multi-trillion dollar market selloff, failing banks, slowing growth and falling population…
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Bill Bonner, reckoning today from Baltimore, Maryland…
Comes this week some alarming news from the Middle Kingdom. That’s China we’re talking about. CNBC:
Hong Kong shares drop 3.7% and mainland China stocks tumble to near 5-year lows
The mainland Chinese CSI 300 fell to an almost five-year low after China’s fourth-quarter gross domestic product growth missed estimates. The index, which measures the largest companies listed in Shanghai and Shenzhen, fell 2.18% to close at 3,229.08.
Most of America’s problems are self-inflicted. Its irresponsible spending, its deficits, its debt, its fake money, its fake interest rates, its corrupt Congress and incompetent administrations…its border wars, culture wars, drug wars, war against Russia, war against Palestinians, etc.
It sounds like they are 10 to 15 years behind us. Or, it takes a lot of wrecking to ruin a large economy.