by Boo_Randy
Millions of Chinese bagholders pre-paid for apartments that will likely never be completed as deeply indebted property developers are going bust left and right. Now huge numbers of those baggies have vowed to stop making their mortgage payments, which is going to further slam the Chinese banking sector. Will China be the first country where the Keynesian fraudsters at the central bank lose control as their insane property bubbles implode?
Former UBS Group AG economist Jonathan Anderson once called it “the most important sector in the universe.”
More than a decade on, Chinese property is again grabbing the attention of global investors — this time for all the wrong reasons.
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