Well, the experts have spoken. Spoken yet again.
Not only is Greece screwed more ways than not. Let's not talk about how Spain, Portugal, Italy or Ireland is safe ... None of those places matter in international finance anyway.
Don't bring up Minnesota, it doesn't matter (really, when has Minnesota ever mattered except when you counted all of the states in the USA?).
What's really the concern now, is this place you hardly consider a world economic powerhouse.
I mean, you don't think of the corner (gas-station) store as a powerhouse, right?
So, when was the last time you wondered when CHINA would crash and burn ECONOMICALLY. Yeah, sure, many of us wonder about the random and bizarre political decisions ... .but ECONOMICALLY?
So when you read:
As municipal projects play out across China, spending on so-called fixed-asset investment — a crucial measure of building that is heavily weighted toward government and real estate projects — is now equal to nearly 70 percent of the nation’s gross domestic product. It is a ratio that no other large nation has approached in modern times.
Even Japan, at the peak of its building boom in the 1980s, reached only about 35 percent, and the figure has hovered around 20 percent for decades in the United States.
What's awesome is the Chinese way of 'pork-barrel' projects' - "same same but different" from the US style:
In the case of Wuhan, a close look at its finances reveals that the city has borrowed tens of billions of dollars from state-run banks. But the loans seldom go directly to the local government. Instead, the borrowing is done by special investment corporations set up by the city — business entities whose debt shows up nowhere on Wuhan’s official financial balance sheet.
So, I ask only ONE question, as the USD and the EURO are both, essentially insolvent - now that one reads this article ... where does one put their money? Gold?
Multiple quotes of above article came from here.