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If this guy is right......

Discussion in 'Preparedness & Survival' started by Randini, Jan 9, 2010.

  1. Randini

    Randini Salem Member

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    Economic Crash in China now how will THAT go over here ?



    James S. Chanos built one of the largest fortunes on Wall Street by foreseeing the collapse of Enron and other highflying companies whose stories were too good to be true.

    Now Mr. Chanos, a wealthy hedge fund investor, is working to bust the myth of the biggest conglomerate of all: China Inc.

    As most of the world bets on China to help lift the global economy out of recession, Mr. Chanos is warning that China's hyperstimulated economy is headed for a crash, rather than the sustained boom that most economists predict. Its surging real estate sector, buoyed by a flood of speculative capital, looks like "Dubai times 1,000 -- or worse," he frets. He even suspects that Beijing is cooking its books, faking, among other things, its eye-popping growth rates of more than 8 percent.

    go here for full story,

    http://finance.yahoo.com/retirement...s-economic-crash-in-china?mod=retire-planning
     
  2. Just Jim

    Just Jim Well-Known Member

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    Yes all government are cooking their books right now and China hasn't been honest with the world since WWII when we helped them beat the Japanese. We are headed for a huge downfall ourselves because of the liars in government, better be ready for the fall of our system.

    jj