Economy

China is at the core of the global bubble, as it pops, it will spread everywhere.

"The meme of the day—–that China doesn’t have so many gamblers—-is hilarious. From stem to stern, China’s version of red capitalism has evolved into the greatest gambling den in history. The whole thing is a giant punt—from 60 million empty high rise apartments, to ghost cities and malls, to endless bridges, highways and airports to nowhere, to laying down more cement in three years than the US did during the entire 20th century."

That's a good description of a bubble of malinvestment of massive proportions.

"As the communist oligarchs desperately hop from increasingly gimmicky stimulus ploys to the mailed fist of economic repression, one thing is quite predictable. Even its phony numbers machine will not much longer be able to hide the fact that the Chinese economy is grinding to a halt, and that the miracle of red capitalism was never remotely what Wall Street cracked it up to be."

Central planning rum amok.