...just when you though it couldn’t get worse: The World Bank warns that China is headed for collapse. Imagine China crashing. The country holding over a trillion of America’s debt. The same China that’s running all over the world like a 19th century Wild West robber baron, using reserve dollars they got from years of financing America’s costly wars and cheap toys.If you add crazed money printing, the picture for China and, eventually America, is complete.
Adding insult to injury, China’s now using these reserve dollars to buy and hoard huge land resources, commodity futures and equities worldwide. Yes, China’s rubbing it in: China’s future is being paid for at the cost of America’s future...the World Bank’s game-changing new report predicting China’s headed for a major collapse that will sabotage the global economy.
Yes, a collapse of China. And what’s really fascinating is how China’s predictable doomsday scenario parallels America’s. Yes, we know America’s elite Super Rich gained virtual control over Washington the past three decades. And now, ironically, that same bizarre capitalism is sabotaging the goose that laid the golden egg for China’s Super Rich too.
In that game-changing study just released by World Bank President Robert Zoellick we’re “warned of a spreading crisis,” says Reuters...
Get it? The cause of China’s problems is exactly like America’s. In both nations, a new, powerful Super Rich is aligned with politicians — will eventually self-destruct. The World Bank warns that China’s corrupt state-owned companies have created a Chinese Super Rich class aligning communist party bosses and corporate executives.
And neither has any interest in the World Bank’s call for reforming their incestuous economic system — which is exactly the same problem with America’s conspiracy between our Super Rich, Wall Street CEOs and Washington politicians.
Tuesday, February 28, 2012
World Bank Warns: China is a Ticking Time Bomb
Paul Farrell writes: