This crash beneath the surface showed something had broken, that the magic had died, that hype and hoopla were suddenly unable to carry the day.
But we’ve had it so good for so long. And it was so easy, and it made everyone look like a genius.
Dotcom Bust 2 has begun. Only bigger.
The dollar’s role as dominant global reserve currency is at risk if the Fed fails to crack down on inflation.
The mayhem that has totally crushed one stock after another for a year breaks through the surface.
Mega-policy decisions to boost demand. Now mega-consequences.
What’s left of the debt-fueled property speculation that drove growth is a huge explosive mess and an enormous amount of debt.
The property sector and its debts are possibly the biggest financial mess in China’s history.
China hasn’t bailed out its over-indebted property developers yet, to the shock of foreign investors who’d bought their dollar bonds. Could the forced deleveraging trigger a financial crisis?
Enough consumers, flush with free money, suddenly eager to pay those high prices, particularly for big-ticket items they didn’t have to buy. Magic Mix.