This essay sums it up–price earnings ratios distortions and bubbles, fiat currency debauchery and loose credit create bubbles of mass hysterical investment.
This has happened before. Where are the economists and the banking experts–where Robert McTeer, for example.
I told anyone who wanted to hear for a while now that the Chinese boom was another example of the commie propaganda machine at work.
I would also point out that we have warned here about the Fed pumping up the commercial banks and even surreptitiously investing in the stock market.
GDP figures now are jiggered, unemployment figures are jiggered, by agencies in thrall with the democrat oligarchy that includes Wall Street and the big banks. The people get put on the dole to keep them quiet.
Private and public debt and unfunded liabilities are now impossible to even contemplate–kick that can down the road.
At one time the Russian economy was a boomer, wasn’t it, in spite of being based on government control of money and production and REPORTS. Most of all Russia had a form of slave labor and so does China.