"The portrayal of China as this sleeping giant that is now awakening to take over the world – and take our jobs – is, like most such conceptions, a total delusion. The Peoples Republic of China is weak in almost every sense: politically, economically, and militarily, the PRC is a paper tiger – as Mao Tse-tung liked to characterize the US – and its rulers are sitting atop a volcano."Like Japan in the 1970s and 80s.
Asset price inflation reaches dangerous, late stage.
ZIRP creates zombie companies, destroying wealth and preventing creative destruction from working.
A billion people used Facebook Monday.
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