Zombies Spreading Shows Chaori Default Just Start: China Credit - Bloomberg
Straightlinelogic's continuing effort to show where the begining of the end of the world might come from.
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- 1Posted by richrobinson 11 years, 12 months agoThanks straight. The first articles I read about China allowing this default gushed about how great this was. The claim is that China is finally allowing the markets to work. Be careful what you wish for.| Mark as read | Best of... | Permalink
- 2Posted by straightlinelogic 11 years, 12 months agoWe allowed markets to work with Lehman Brothers, too. However, I'm not saying that we (or the Chinese) shouldn't allow markets to work. If we had let the markets completely work back in 2007-2009, we wouldn't be in the mess we are in now. Markets just reflect reality, and reality forestalled is not reality denied. However, reality forestalled usually makes the ultimate reality that much worse, which I'm afraid we (and the Chinese) are about to again find out.| Mark as read | Parent | Best of... | Permalink
- 1Posted by richrobinson 11 years, 12 months agoExactly. I see no one in a position of importance that will do the right thing. A pathetic lack of leadership.| Mark as read | Parent | Best of... | Permalink
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