By George Washington -
The head of China’s sovereign wealth fund noted in 2009: “both China and America are addressing bubbles by creating more bubbles”.
He’s right …
Global credit excess is worse than before the 2008 crash.
The U.S. and Japan have been easing like crazy, but – as Zero Hedge notes [if you missed it when Tyler Durden first posted this] – China has been much worse:
READ MORE ON ZERO HEDGE
China is blowing a huge $23 TRILLION credit bubble.. and it's starting to collapse
