The Wake Up Call - Debt On Steroids - 03/21/14

The Wake Up Call show

Summary: No lessons have been learned from the financial crisis. Debt has soared more than 40% since then. There is no evidence that this debt growth has had any positive effect on economic growth. In fact, quite the opposite. The only unanswered question is as to where this enormous expansion in unproductive debt will lead. Mathematically it is impossible to “outgrow” debt accumulation. The China crisis, the greatest bubble in history. Chinese subprime lending looks just like the U.S. just before its crisis, according to George Soros. The knock-on effects of the collapse will be felt worldwide. The Chinese are spending more and more to create less and less GDP. The defaults have begun. Sit back and watch the fun. David Stockman talking about the absurdities of “tapering” and “QE-this-and-that”. Stock market report. Revisiting Cyprus.