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THE ECONOMY & YOU # (Daily Updated Videos & Articles)
Ms Sans Serif
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[quote:RoXY:MV8xNTc4NDI2XzMyMDcyNDQ3X0IyMzU2MkY4] [quote:Marxist:MV8xNTc4NDI2XzMyMDcyMDE2X0JGNEMwRUY3] http://theautomaticearth.com/Finance/meet-chinas-new-leader-pon-zi.html The above link illustrates my point above and of course the futility of socialism in one country. [/quote] [b][u][color=red]Meet China's new leader: Pon Zi[/color][/u][/b] ... So on the one hand, we have companies guaranteeing each other's debt (loans), and on the other hand, we have companies buying excessive numbers of equipment, which they pay for with loans provided by the suppliers on condition excessive numbers are bought. That equipment is then used as collateral to secure more loans. Large parts of these loans are then used to speculate in real estate markets. In both instances, and don't let's forget the overlapping ones where both schemes are combined, we are talking about absolutely virtual money. Are these incidents perhaps? I find that hard to believe in view of how Chinese society is organized: major profits will attract major attention, a pyramid of perfect dimensions. Charles Ponzi, eat your heart out. You may have been a fine crook, but you never even dreamed of operating on this scale. When these guys are done, they’ll leave nothing but a shell of a country behind. The Chinese elite has amassed far more in wealth than all the country's vaunted foreign reserves put together. That is something people all over the world need to very seriously think about. For now, though, the only true Chinese leader is Pon Zi. Whose inevitable successor will be Domi No. [b] http://theautomaticearth.com/Finance/meet-chinas-new-leader-pon-zi.html[/b] [/quote]
Economic Armageddon and You
Wondering about the American economy? This animated video explains inflation, stagflation, recession and more, all in 5 minutes.
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