Re:China's innovation economy a real estate bubble in disguise?
by adrenalinelol on Wednesday July 06, 2016 @10:40PM
(#12047198)
1. U.S. Natl. Debt: $18.8 Trillion [1]
2. ~ 20 states face some form a fiscal problem/crisis [2]
3. I assume he's talking about the alternative means of measuring unemployment? The worst case scenario that is accepted by mainstream economics is ~10% [3]
None of what he said was wrong, but China is in serious trouble. The real-estate bubble is hiding a credit bubble. As the government attempts to scale back stimulus programs, the % of the economy which is dependent on such activity will start to feel the pinch. No one really knows how much pain the average Chinese citizen is going to feel, but the situation has no parallel in history, the amount of money the Chinese government has spent is astronomical. Some economists have stated they expect the debt to peak 283% of GDP... [4]
2. ~ 20 states face some form a fiscal problem/crisis [2]
3. I assume he's talking about the alternative means of measuring unemployment? The worst case scenario that is accepted by mainstream economics is ~10% [3]
None of what he said was wrong, but China is in serious trouble. The real-estate bubble is hiding a credit bubble. As the government attempts to scale back stimulus programs, the % of the economy which is dependent on such activity will start to feel the pinch. No one really knows how much pain the average Chinese citizen is going to feel, but the situation has no parallel in history, the amount of money the Chinese government has spent is astronomical. Some economists have stated they expect the debt to peak 283% of GDP... [4]
1. https://www.nationalpriorities.org/campaigns/us-federal-debt...
2. http://mercatus.org/statefiscalrankings
3. http://www.bls.gov/lau/stalt.htm
4. http://www.bloomberg.com/news/articles/2016-02-21/china-s-de...