Things That Seem Normal But Definitely Aren’t, Part 1: Soaring Chinese Debt

by John Rubino
Dollar Collapse

The era of fiat currencies and central bank printing presses has desensitized us to massive leverage and its implications. So when it is reported, for instance, that China‘s private sector borrowing has risen to levels that are unprecedented in financial history, this is greeted with a collective yawn.

It shouldn’t be, though, because no society can continue to borrow this kind of money without spinning out of control. Some details:

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