There Is No Economic Recovery In China Or Anywhere Else - 03/11/13

The Wake Up Call show

Summary: China is still shoveling subsidies to loss-making firms. Its economy is massively deformed and the global effects of its imbalances are getting bigger every year. The quality of life is degrading and pollution is an overwhelming problem. More on the bogus unemployment figures. The middle class is dying a slow but steady death in the U.S. Auto loans are soaring, giving a false sense of optimism to the automotive industry. Huge numbers of these loans will default and motor manufacturers will probably fall back into bankruptcy. Increased debt is not giving rise to increased prosperity, just increased stress. More on Bernanke’s crazy experiment. The consequences of the sequester. The ultimate way in which humanity will probably become extinct: it may surprise you