While much of the media remains focused on Trump and trade, the greatest threat to the Chinese economy may be reckoning with a massive financial bubble from within.
The world now has the impossible choice of permanently reduced productivity and slower economic growth — or the mass bankruptcy of a significant percentage of the economy.
Vikram Mansharamani’s second edition of Boombustology: Spotting Financial Bubbles Before They Bursthas all the great insights from the first edition plus a foreword by James Grant.
The most characteristic feature of post-WWII business cycles is that they have originated in deliberately inflationary policies directed by central banks.
