Click on Photo to enlarge
"I have been warning for years that the greatest - and final - bubble to burst, in this century of bubbles, would be China. Now that cracks in the great red dragon's economy are widening, it's time to prepare for the worst" ~ Harry Dent, Global Financial columnist
Chanos and his crew at Kynikos don’t make big “macro” bets on economies; their style is more “micro”: looking at the fundamentals of individual companies or sectors. And so it was with China. “I’ll never forget the day in 2009 when my real estate guy was giving me a presentation and he said that China had 5.6 billion square meters of real estate under development, half residential and half commercial,” Chanos told me the other day.
Every great con game or Ponzi scheme eventually comes to an end and it's always painful.
Heart centered spiritual consultant and advisor Allen L Roland can be contacted at firstname.lastname@example.org Allen is also a lecturer and writer who shares a weekly political and social commentary on his web log and website allenroland.com. He is also featured columnist on Veterans Today and guest hosts a monthly national radio show TRUTHTALK on www.conscioustalk.net