Chinese Real Estate Mogul: China’s housing bubble “Is the biggest bubble in history”

Modern China is driven by central planning and a deeply crony culture. Interestingly the country has succeeded in reinflating its housing bubble. I say reinflate because about a year and a half ago things looked like they were really going to bust. (Thanks to the unsound monetary policy that created the initial unstable boom.) Then the government and the banks intervened (in typical central planner fashion) and we’re off to the races again. The government delayed the inevitable. But the debt monster lurks,

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2008 Was a Crisis… It Was Not THE Crisis

Think of 2008 as a primer. A very difficult and disruptive primer. Nothing’s “fixed.” Markets never really cleared.

Additionally, as is explained below, the now 0% interest rates are almost locked there as the cost of serving US debt by the US government would explode upward with increased (and very likely closer to real market level) rates. That’s a sticky place to be to say the least.

But people will continue blissfully along, until they can’t.

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Doomsday clock for global market crash strikes one minute to midnight as central banks lose control

Not the kind of economic boom the Keynesians were hoping for.

Look at it this way. If you are part of the vast, generally assetless or nearly assetless middle class you won’t have to watch the value of what you have decline. I guess that’s a good thing, sort of.

The world is slowing. China is in serious trouble and the ripples emanating from Beijing are becoming waves. The Keynesian experiment post-Crash is failing. (As the Austrian economists said it would.)

World markets are built right now on cotton candy and the rainbow dreams of central bankers.

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Insane in the cop brain: Cops bust CA medical pot store (for some reason) then appear to eat medical marijuana and hang out (Video)

I don’t know why these police officers were taking this dispensary down. Who knows? But am almost positive that they aren’t supposed to be partaking of the merchandise, particularly on the job.

This folks, is your war on drugs.

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