Relevant:
- A Towering Chinese Debt Mountain Looms Over Markets
- US dollar owes its strength to one simple thing: the world's need to repay a mountain of debt
- Manage, meddle or magnify? China's corporate debt threat
- China Approves Another 1 Trillion Yuan Local Debt Swap
- Americans now Hold Over $4.1 Trillion in Consumer Debt: Last Debt Bubble Peak was at $2.5 Trillion.
2012-02-12 — blogspot.com
A few years ago local Chinese municipalities had little debt. Today they have a $1.7 trillion mountain of it, nearly all of it financing economically non-viable projects in the name of "stimulus".
The proposed "solution" of course is to roll the debt over, while adding still more to the debt mountain, hoping things will get better.
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