The Great Global Rig is Ending…Are You Prepared?
June 24, 2013
The markets are beginning what could in fact be an epic meltdown.
China is on the verge of a “Lehman” moment as its shadow banking system implodes. China had pumped roughly $1.6 trillion in new credit (that’s 21% of GDP) into its economy in the last two quarters… and China GDP growth is in fact slowing.
This is what a credit bubble bursting looks like: the pumping becomes more and more frantic with less and less returns. Check out the collapse in China’s stock market.
We are literally back into 2008 Crash territory here: