Chinese Banking System Nearly Bankrupt Says Professor of Finance at the Chinese University of Hong Kong; Nothing Shocking About Mistrust, Lies, Suppression of News
Larry Lang, chair professor of Finance at the Chinese University of Hong Kong, said in a lecture that he didn’t think was being recorded that the Chinese regime is in a serious economic crisis—on the brink of bankruptcy. In his memorable formulation: every province in China is Greece.
The restrictions Lang placed on the Oct. 22 speech in Shenyang City, in northern China’s Liaoning Province, included no audio or video recording, and no media. He can be heard saying that people should not to post his speech online, or “everyone will look bad,” in the audio that is now on Youtube.
In this new millennium I often wonder how a 1930s style global depression is going to play out and who will be at war with who in the end.
Also, the EU failure barometer, Italian 10 Year Bond now over 7%.