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Tag Archives: Beijing

“Magic” Collateral: A Frank Look At The Sheer Credit Horror About To Be Unleashed In China

China is an amazing political and economic entity. Watching it is fascinating.

Is it slowing? How much? Is it a lot? Is it a lot more than even the pessimists think? Is the Chinese banking system looking at a “black hole moment”? Can the banks be bailed out by the Chinese central bank without setting off a worldwide economic wildfire? No one knows the answer to these questions, including the powers that be in China.

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Bank Of China Denies Default

Uh oh. Things in the Ultimate Crony Capitalist State (UCCS aka China) are not going well. One gets a sense that an economic block may have just been removed somewhere (or perhaps a bandage ripped off) and things are flowing again in the economy.

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