Forecast Revisited
The Jacob Shapiro Podcast
00:00
The Doomsdayer's View on the Chinese Housing Bubble
The housing bubble is an exponential system that requires acceleration to continue. When you have a housing bubble, it doesn't just roll over. It either accelerates or it collapses. And in many ways, the local government debt issue is very similar because local governments have been feeding off of the housing bubble. Even even me who is, you know, I think that China will muddle through. The reckoning is coming, but I don't think it's quite here yet.
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