Bill’s commentary:
“Investigators investigating themselves? Surely we will get some real answers ..when hell freezes over?”
Unlike his three immediate predecessors who chaired the Federal Reserve (Janet Yellen, Ben Bernanke and Alan Greenspan), who all had doctoral degrees in economics, the current Fed Chairman, Jerome Powell, has a law degree from Georgetown University.
Bill’s commentary:
” OK, but who lent the money? This question will soon be asked in many parts of the world!”
Recent statistics from China’s central bank show that home buyers’ enthusiasm has fallen drastically. Despite price cuts and incentives, the world’s largest housing market continues to slump, and China’s banking sector is taking a hit on two fronts, as both defaults and prepayments rise. Meanwhile, China’s developers are starting to show the strain, with real estate giant Wanda Group making headlines this week as the value of its dollar bonds plunged.
BillHolter.com 
We already have the answers. We just didn’t get them from them.
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