The Depth of the Debt Problem in China

I think there's a lot of possibilities or a lot of hope for China, but it would absolutely require dismantling policies in China that are not going to be dismantled. The only way they can service the bubble is by doing worthless, gigantic, worthless infrastructure projects. So when they build more infrastructure now, it's really just making work. It's misallocation of resources to a obscene degree. This was a zero hedge article. They're basically advising banks to help firms repair their credit, ignore firms, missed payments, and so on. That speaks to the depth of the problem here.