China's Debt Surpasses Europe For The First Time
(www.zerohedge.com)
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China’s debt to GDP is about to blow through 100%. While ours will soon be leveling off and potentially declining.
China’s surge in debt was driven by credit expansion, infrastructure spending, and state-backed growth.
Not bailouts to billionaires or entitlement fraud.
Nah, to buildings, dams, and bridges that are crumbling.
They cornered markets for decades! I don't understand how they managed to lose it all. Well, building thousands of unused ghost cities was phenomenally stupid, for sure. (And we get our wrists slapped for wasting plastic sandwich bags.)
I'd love to see what that chart would look like if the US had withdrawn from NATO ten or fifteen years ago.
It's very likely that Europe's debt would be far higher than ours.
It also might have actually saved Europe, because there wouldn't have been any money to hand out benefits to the illegal immigrants.
Does China have bankruptcy laws? Can a nation go bankrupt on ots debts, wipe away all debts and start fresh? Hmmm? Makes me wonder if the "Corporation of America" might go the way of the dodo bird. Get rid of $36T in debt and let the deep state bankers eat it. All we are doing, anyways, is funding the DS with those interest payments as the principle never goes down.