Here’s something to watch in 2014: China’s debt. Although the odds of a full-blown financial crisis are slim, they’re not non-existent. The flash point is the burgeoning debt of Chinese localities to finance major infrastructure — roads, bridges, water and sewer systems, subways, telecommunications networks — as well as housing and commercial real estate developments. The fear is that revenues from these projects won’t be adequate to repay the loans, resulting in defaults that undermine confidence and trigger bank runs. This would surely rattle the broader global economy.
Disrupting the Borg is expensive and time consuming!
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I listened to the scare stories about a Japanese debt crisis, Europe and UK debt crisis, then a US debt crisis and now the scary story is the Chinese debt crisis.
God knows what happened over the Soviet debt crisis.
I’m more confused than ever.
Meanwhile, the Chinese can continue to “invest” in America with their largess, for “there’s nothing that can’t be bought for the right price”:
http://www.abs-cbnnews.com/business/01/01/14/chinese-tycoon-wants-buy-new-york-times
“Check kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account. In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit.”
http://en.m.wikipedia.org/wiki/Check_kiting
I went to buy some ammunition for a pistol I bought some while ago, after seeing the price I am going to put up a sign that reads, “Due to the price increase on ammunition don’t expect a warning shot.”
“Due to the price increase on ammunition don’t expect a warning shot.” +++ I like that one better than bang, bang, bang stop or I will shoot you again!