BillHolter.com

Bill’s commentary:

“Silver lining? China’s property market, and by extension the debt carried by this sector, could be exactly what sparks the wildfire of debt implosion worldwide…”

China’s housing market is still struggling. Outstanding loans to the property sector fell on a yearly basis for the first time on record as consumers opt against buying homes.

The all-important sector clearly needs more support. But Beijing’s strategy is to shift resources from speculative sectors to more productive industries. In that sense, the difficult rebalancing is going according to the plan.

Bill’s commentary:

“”Debt service” kills!”

‘If ever again our nation stumbles upon unfunded paper, it shall surely be like death to our body politic. This country will crash.’ George Washington. (1732-1799).

Bill’s commentary:

“Is it possible there can actually be a cold day in hell? It doesn’t matter, the world already knows that Western central banks are insolvent. This is fact as interest rates have destroyed their balance sheets…”