This has “big bubble” written all over it:
These are the types of economic imbalances that happen when you have fiat currency and fractional reserve lending which leads to way too much money running around in the economy,generally in the hands of too few, which chases the prices of speculative assets up. After all, when you have provided food, clothing, shelter, transportation, health care and entertainment to your family, what is left to do with all that excess money but to speculate?
I wish I could say this was just China being stupid but if you look at the facts, they got locked into this by US inflation. You see, we doubled our monetary base last year in order to come up with new money that would kick the can on great depression 2.0 down the road. What this should have done was tank the dollar relative to the Chinese Yuan but the Chinese leaders knew that a stronger Yuan would put the smack down on the Chinese export economy so they greatly increased the Yuan in circulation so that they could maintain their ridiculously low currency peg. In other words, the US exported its inflation. Again. How many more times this scam will work is unknown but now you can see how $hit rolls down the side of the pyramid and the US is at the top of it. No wonder the enlightened ones worship the pyramid. They understand that, just like in ancient Egypt’s massive use of slaves, the pyramid is the key to stealing a person’s labor.
