Faber News Flow

In emulating the American economic  raison d'etre,  China has attempted to develop its unique capitalist model while ignoring that it too will soon suffer the same fate for the same reason: Unsustainable debt.  When examining the recent realities of Chinese banking and finance over the past year it seems the steam that president Xi Jinping touts as powering the engine of his purported economic miracle of a master-planned economy is only a mirage, now almost completely evaporated before his eyes. Like the many other  similarly foolish western nations,  China seeks only one path out of this fiscal death spiral,  one that will likely spell doom and/or revolution in many countries soon:  More debt. China to Hit 2019 Economic Targets as Trade Deal Lifts Outlook China is becoming increasingly unable to continue to pay into the base of the world's largest pyramid scheme of an economy and the cracks in the bubble are showing. This past year, saw three of the 4,279 Chinese lenders almos...