This should not be ignored, as I have said many times before China is the next big problem thats going to bring down world markets when everyone realizes that their growth is slowing....when everyone says everything is fine and that growth isnt stalling, pay zero attention to that...look at the housing boom going on in China, did anyone see the piece 60 minutes did about the housing bubble in China, of course this time its different, right? China Local Authority Debt 'Out of Control' Published: Tuesday, 16 Apr 2013 | 7:41 PM ET By: Simon Rabinovitch A senior Chinese auditor has warned that local government debt is "out of control" and could spark a bigger financial crisis than the U.S. housing market crash. http://www.cnbc.com/id/100646465
Here is the segment on the housing bubble in China, watch it a few times and let it sink in if doesnt the first couple of times, no one wants to believe it but its right here in this segment, dont ignore it. <iframe width="420" height="315" src="http://www.youtube.com/embed/KjOuDmy1ybE" frameborder="0" allowfullscreen></iframe>