This page has been archived and commenting is disabled.

China's Delinquent Loans Rise 333% Since End 2011

Tyler Durden's picture


Presented with little comment since our jaws just hit our chest - these stunning headlines from a PWC report:







- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 09/19/2012 - 23:30 | 2813822 valkir
valkir's picture

Walking is dangerous than printing,bitchez.

Wed, 09/19/2012 - 23:36 | 2813839 Troll Magnet
Troll Magnet's picture

Corrapse, bitchez!!! Clash and bun!

Wed, 09/19/2012 - 23:40 | 2813843 nope-1004
nope-1004's picture

Why pay back a loan when you can use that money to buy more gold?  Makes complete sense.  The Chinese know full well that all fiat is headed toward worthlessness.

Prudent, IMO.


Wed, 09/19/2012 - 23:42 | 2813851 ACP
ACP's picture

I've actually wondered why more governments don't do that? Or maybe they are and not saying anything in order to prevent "gold envy."

Wed, 09/19/2012 - 23:47 | 2813855 TwoShortPlanks
TwoShortPlanks's picture

"you don't need to see the banks' books...these are not the loans you're looking for".

Wed, 09/19/2012 - 23:54 | 2813872 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

China, the biggest Ponzi scheme EVER!

Thu, 09/20/2012 - 00:19 | 2813910 Ineverslice
Ineverslice's picture

...brought to you by our blood thirsty friends with ever reaching tentacles.

Surprise...Pan fried-derivatives.

Thu, 09/20/2012 - 00:55 | 2813963 Richard Chesler
Richard Chesler's picture

But they can always rely on their "risk-free" US T bills. Right? right?


Thu, 09/20/2012 - 07:21 | 2814240 GetZeeGold
GetZeeGold's picture




Hey those T bills.....are freakin gold baby!


Thu, 09/20/2012 - 02:44 | 2813942 Bananamerican
Bananamerican's picture

are there still Mandarin immersion schools in NY?

"The Japanese will own us" -90's

"The chinese will own us" - 2000's

only amerika can take america down bitchez!

Thu, 09/20/2012 - 03:58 | 2814102 malikai
malikai's picture

Amerika has taken America down. Just wait until we need all that 'industry' we gave away for cheap trinkets and iPhones.

Thu, 09/20/2012 - 10:27 | 2814889 post turtle saver
post turtle saver's picture

The next mouth breathing dumbass that puts up another "US has no industry / manufacturing / Amerika" post on this board can EABOD and DIAF. Nothing, and I mean NOTHING, proves you're a bigger fool than believing that crap. You're not a human being, you're a parrot.

At least the western world has a reasonable audit function... every number out of China is flat out fucking FAKE. If you haven't figured that out by now you never will.

Thu, 09/20/2012 - 07:35 | 2814262 LongSoupLine
LongSoupLine's picture



"The Fed and Big Banks will own us" - 2010's

Thu, 09/20/2012 - 02:20 | 2814034 Dr. Engali
Dr. Engali's picture

Second biggest. We have them beat by a wide margin.

Thu, 09/20/2012 - 00:07 | 2813887 TwoShortPlanks
TwoShortPlanks's picture

Great form from the chick demonstrating Yoga on the carpet. She's skipping Plank and going straight to 'Upward Dog', what a pro!

Yoga tonight...a great's like soft porn, unplugged.

Thu, 09/20/2012 - 05:46 | 2814162 Drag Racer
Drag Racer's picture

oh, I just thought the guys behind her were holding signs with ratings of her ass...

Thu, 09/20/2012 - 03:17 | 2814074 Sphinx_www
Sphinx_www's picture

Remember all the phantom steel inventories report?

Wed, 09/19/2012 - 23:51 | 2813860 vast-dom
vast-dom's picture

no glot com fliday kwash bun redrum redrum drydrunk drydrunk 333% on the way to 666%

Thu, 09/20/2012 - 01:30 | 2813990 kalasend
kalasend's picture

too much peter chao

Thu, 09/20/2012 - 06:33 | 2814196 Fantasy Planet
Fantasy Planet's picture

No tickee, no laundering!

Wed, 09/19/2012 - 23:38 | 2813840 nope-1004
nope-1004's picture



Wed, 09/19/2012 - 23:33 | 2813823 Alpo for Granny
Alpo for Granny's picture

Wait..people are expected to pay back loans? That's soooooooo old fashioned.

Wed, 09/19/2012 - 23:33 | 2813833 km4
km4's picture

Unfortunate that China does not have the secret weapon of CTRL-P and the Ben Bernank ;)

Wed, 09/19/2012 - 23:34 | 2813834 gavroche76
gavroche76's picture

Reality just hit the Great Wall.

Thu, 09/20/2012 - 02:46 | 2814053 Zero Debt
Zero Debt's picture

Bullish for delinquent loans.

Thu, 09/20/2012 - 05:51 | 2814167 TIMBEEER
TIMBEEER's picture


Wed, 09/19/2012 - 23:35 | 2813837 russwinter
russwinter's picture

Must really be bad for the non-transparent Chinese to at least in part fess up. 

Wed, 09/19/2012 - 23:35 | 2813838 CURWAR2012
CURWAR2012's picture

is that chick giving a blow job for free?


Thu, 09/20/2012 - 01:04 | 2813976 Dr Benway
Dr Benway's picture

I can tell that's an alien concept for you

Thu, 09/20/2012 - 08:12 | 2814325 the not so migh...
the not so mighty maximiza's picture

naa, she is ready to get mounted cave man style.

Wed, 09/19/2012 - 23:39 | 2813846 TheSilverJournal
TheSilverJournal's picture

This just shows how much of a boom China is set for. The rest of the world is printing into a frenzy to postpone this type of thing from happening, while China sits back and shores up its fundamentals.

Thu, 09/20/2012 - 10:30 | 2814897 post turtle saver
post turtle saver's picture

ROR! "Chinese financial fundamentals", what a riot! You should take that act on the road.

Thu, 09/20/2012 - 10:37 | 2814921 TheSilverJournal
TheSilverJournal's picture

Just look at how much they export. That shows how strong thier fundamentals are. When they stop supporting other countries, they will consume those products that they currently export themselves and they will boom.

Thu, 09/20/2012 - 10:42 | 2814940 Chump
Chump's picture


Thu, 09/20/2012 - 12:44 | 2815326 TheSilverJournal
TheSilverJournal's picture

Apparently, today ZHers are choosing to believe that it's spending and consumption that makes an economy more prosperous.

Thu, 09/20/2012 - 17:21 | 2816304 Chump
Chump's picture

Well, I didn't junk you, but I do think you're being way too simplistic.  They make and export cheap plastic shit, basically (that is also admittedly simplistic).  They're trying to make their way into heavy construction equipment but their product lines and presentation in Europe and America are raffable in the extreme.

Do you really think that if we stop buying their exports their citizenry is going to up and consume a shit load of iPhones?  If so, why aren't they doing so now and booming to Mars and beyond?  If our economy crashes, do they just nationalize all of the multinational corporations' factories and continue on as if nothing happened?

They've enslaved their citizens, they've poisoned their earth, and with no one to export to the factory workers go back to the rice paddies or kill themselves (or march off to nearest war, given the current climate).

We are no better, and our service/consumption based economy is also no better, but it's false to say that because our fundamentals are untenable then theirs are.

I am clearly not an expert here, so any clarification and correction is welcome.

Thu, 09/20/2012 - 23:39 | 2816912 TheSilverJournal
TheSilverJournal's picture

The ONLY reason to export is to in turn import.

China is exporting a lot of stuff to the US for a poor exchange of goods in return. For the most part, what they get in exchange is digital fiat. China is doing themselves a world of harm by exporting us their real goods that took real resources and real labor to make in exchange for digital dollars, which will soon vanish into the thin air they came from.

Yes, when China stops getting screwed by this game, they will consume their own products, albeit there will be a cost to retooling their factories.

Wed, 09/19/2012 - 23:44 | 2813852 Desert Irish
Desert Irish's picture

So delinquent loans are on track to exceed the $160 billion stimulus does that work? And China is the engine of growth that is going to drag the west out of this recession? God help us....

Thu, 09/20/2012 - 00:52 | 2813960 LMAOLORI
Thu, 09/20/2012 - 07:35 | 2814259 Urban Redneck
Urban Redneck's picture

No they're not buying "our" debt (any more).  They're buying oil to fill their new SPRs, they're buying huge inventories of commodities which you can't eat and which pay no interest, they're buying tons barbarous relics,  they're buying foreign corporations with tangible assets,  they're buying access to raw materials,  they're buying foreign influence.  And with the growing pile of F/X reserves that they are amassing on top of all this buying and spending, they are not buying more UST, they are stockpiling other people's IOUs.

China hasn't bought any additional Treasuries in FY/CY 2011 or 2012

September 2010 - Chinese UST Holdings 1151.9B

June 2012 (Most Recent Comp) - Chinese UST Holdings 1147.0B

Net US Treasury Holding Change -0.4%

September 2010 - Chinese F/X Reserves (ex. gold) 24542.75B

June 2012 - Chinese F/X Reserves (ex. gold) 32400.05B

Net F/X Reserves Change +32.0%

While the US fiscal year ends in 10 days, corresponding CNB data won't be available until the calendar year end.

Wed, 09/19/2012 - 23:43 | 2813854 JackT
JackT's picture

Wife asked why I was laughing. I tried to explain, the "jaw dropping", and the photo of the jet...but it's just one of those things you either get it or you don't.

Thu, 09/20/2012 - 03:04 | 2814058 TruthInSunshine
TruthInSunshine's picture

You forgot about China's "stealth fighter."

The secret to it's lethality is tricking those on the ground that it's a freight train, and not an aircraft, approaching. Very clever.

Video Of Chinese J-20 Stealth Fighter Leaked | ZeroHedge


And that does it, when I have kids, I'm teaching them Burmese, not Mandarin.

Burma's the next BBRIC.

Thu, 09/20/2012 - 07:27 | 2814251 JPM Hater001
JPM Hater001's picture

China's stealth fighter is nothing to our flying disc technology (actually I think they went with a triangle but not matter...).


Wed, 09/19/2012 - 23:48 | 2813858 hmmtellmemore
hmmtellmemore's picture

Link to original report?

Wed, 09/19/2012 - 23:52 | 2813869 Ineverslice
Ineverslice's picture

Bottom falls out and the chick's i-phone falls clear through to Detroit.

Soft landing...Check.


Thu, 09/20/2012 - 05:54 | 2814168 TIMBEEER
TIMBEEER's picture

After a few hasty, fearful looks at the achievements of the (politically correct censorship here) mayor, and his (pc censored) voters, she will jump back into the hole!

Wed, 09/19/2012 - 23:56 | 2813877 Conman
Conman's picture

Its ok they have those warehouse full of steel for assets... oh wait.. oh shit..

Wed, 09/19/2012 - 23:57 | 2813880 Uber Vandal
Uber Vandal's picture

I find myself saying "Aw fuck" outloud quite often lately when reading articles here.

I guess I'm alright until I find myself shouting "Oh, Fuck me!!".

I have a feeling that day is coming soon for many, if not all, of us.

Thu, 09/20/2012 - 05:56 | 2814170 TIMBEEER
TIMBEEER's picture

Perhaps your second shout is what was on the mind of the chinese chick bending down on the carpet?

Thu, 09/20/2012 - 00:01 | 2813885 monad
monad's picture

Lots of titanium in China.

Thu, 09/20/2012 - 10:32 | 2814901 post turtle saver
post turtle saver's picture

Lots of kidneys in China. Hearts, livers, and lungs too.

Thu, 09/20/2012 - 00:01 | 2813886 Renewable Life
Renewable Life's picture

And cue the protestors with the Japanese hate signs in 3-2-1...........mobilize the military assets for some good old fashion drum beatings..........then let the American know.......there next!!!!!!

Thu, 09/20/2012 - 00:03 | 2813890 Yes_Questions
Yes_Questions's picture



People's Wepublic of Currency?

Thu, 09/20/2012 - 00:07 | 2813894 kevinearick
kevinearick's picture

As the mounting evidence demonstrates, it's going to get substantially uglier in the new year, and the us middle class cut will be 20% falling under water. elections are only important in terms of which 20%, what capital goes with it. reversion will occur; who gets sacrificed on krugman's alter is up to capital. obamney gets richer either way, and both would make a greater profit by losing.

Thu, 09/20/2012 - 00:08 | 2813895 Mark123
Mark123's picture



that is why the pay PWC so much...for such perceptive insights as this!!!!!!!!


God help us all.  Maybe the Fed should buy these chinese "assets"?  QE3+++

Thu, 09/20/2012 - 00:14 | 2813899 Yen Cross
Yen Cross's picture

 Specs are dumping "Aussie 10year bonds" , down almost 11 basis points.

Australia 10-Year 3.270 3.365 3.315 3.260 -0.100 -2.97% 4:12:35

   It's commodity rebalancing.

Thu, 09/20/2012 - 00:35 | 2813933 Ineverslice
Ineverslice's picture

Crikey! Where's that exit?

Thu, 09/20/2012 - 00:46 | 2813952 chump666
chump666's picture

10s and FX correlate.  Not surprised about Aust 10yr, should sell hard with the AUD.

A miner will go bust over there, a big one, then the housing market.  Hedge funds will prompt a rate cut on the RBA.  Brutal sell off on the AUD is on the cards.

Thu, 09/20/2012 - 00:57 | 2813965 Yen Cross
Yen Cross's picture

In some small "1'st world economies", with fairly balanced budgets, bond yields actually go down, when they get sold!

 Hence the currency sell off, and not the "safe haven" effect! I think you are 100% correct Chump, but this sell off is more of a "repositioning" squeeze, IMHO. The RBA was still on the "firm side" last week. The aud/has been weighted by the "STUPID YEN" strength.

   The BoJ went all in Yesterday,so the "momo"& "speculators" can beat the hell out of the yen until further notice!

Thu, 09/20/2012 - 01:14 | 2813985 chump666
chump666's picture

i am looking at the asx200 now, it is so hft infested, i think australia will be one huge short till the central bank joins the print fest.  but everything looks bad, from all angles...everywhere.

Thu, 09/20/2012 - 01:26 | 2813989 Yen Cross
Yen Cross's picture

Can't argue with anything your are saying . I Just feel one more "nasty squeeze" before the fall! You know how the aussie is when it falls, because of the "carry" effect.

Thu, 09/20/2012 - 00:25 | 2813919 Lore
Lore's picture



The Chinese are noobs.  Billions are chump change, especially when you convert to dollars. They haven't hit TRILLIONS like us.  You hit the bit 'T' and that's when you start talking about REAL money.

Thu, 09/20/2012 - 00:43 | 2813944 Vlad Tepid
Vlad Tepid's picture

The Japanese are up to a quadrillion yen.  Play it like the pros.

Thu, 09/20/2012 - 00:50 | 2813956 jimmyjames
jimmyjames's picture

The Chinese are noobs.  Billions are chump change, especially when you convert to dollars. They haven't hit TRILLIONS like us.  You hit the bit 'T' and that's when you start talking about REAL money.


Thu, 09/20/2012 - 00:27 | 2813926 Mike in GA
Mike in GA's picture

It's getting scary to see all these negative economic data points getting woven together more and more quickly.  Like watching a constricting cocoon being constructed around entire economies.  Knowing while we watch that slow death follows. 

Thu, 09/20/2012 - 01:25 | 2813928 BlackholeDivestment
BlackholeDivestment's picture

...must be the year(s) of the ''Under'' Water Dragon ...with rucky ''Under'' Water Snake on ho wisen.

  2012     January, 23 2012   2012 Black Water Dragon Year February 4, 2012   2013     February, 10 2013   2013 Black Water Snake Year February 4, 2013 

Well at least there is nothing else strange going on, like a 188 day black hole fly by call for the 26th on Yom Kippur or anything. Lol. 


Thu, 09/20/2012 - 00:40 | 2813940 walcott
walcott's picture

Surprised they didn't pour cement on her.

Thu, 09/20/2012 - 10:34 | 2814909 post turtle saver
post turtle saver's picture

They can poor dry powder on her all they want. Call me when they have water and aggregate. Then it will be concrete and she'll really be in trouble.

Thu, 09/20/2012 - 00:42 | 2813943 Vlad Tepid
Vlad Tepid's picture

Papering over a crisis?

Thu, 09/20/2012 - 00:44 | 2813947 chump666
chump666's picture

HAHA BOOM!  China is done.  Should finally take out Europe, inflation/deflation chaos, confusion and markets that will make your eyes bleed.

But they will get ugly with Japan, no doubt there...

Gotta be a flash crash on the oil price

Thu, 09/20/2012 - 01:22 | 2813987 Ineverslice
Ineverslice's picture

Maybe the Mid-East schedules put on fast-track?

Hardliners are liking this as the markets are revealing the vacuum beneath. 

Thu, 09/20/2012 - 00:44 | 2813948 jonjon831983
jonjon831983's picture

common what does the first pic of a the lady in red dress tripping have to do with this...


Thu, 09/20/2012 - 00:45 | 2813950 jonjon831983
jonjon831983's picture

the video though is terrible yet rofl.  Feel conflicted on that one.  Ok, terrible.

Thu, 09/20/2012 - 00:46 | 2813951 otto skorzeny
otto skorzeny's picture

"Face down-ass up-that's the way we like to f***."-2 Live Crew

Thu, 09/20/2012 - 00:58 | 2813967 chump666
chump666's picture

and no film clip?

here punks

Thu, 09/20/2012 - 00:48 | 2813954 nah
nah's picture

is this about cashflow


or china

Thu, 09/20/2012 - 00:58 | 2813968 intric8
intric8's picture

Massive stimulus + tons of dirty crooks + crooked system = 333% increase in delinquent loans

Thu, 09/20/2012 - 01:00 | 2813973 Yen Cross
Yen Cross's picture

Aussie bonds, and the currency are a pretty good S/T hold for the SNB, who probably sold all the shit to begin with, through their "Dutch clearing house"!

Thu, 09/20/2012 - 01:50 | 2814007 Dr. Engali
Dr. Engali's picture

I guess the "build it and they will come "with the empty cities wasn't such a good idea after all.

Thu, 09/20/2012 - 01:53 | 2814010 q99x2
q99x2's picture

Of course they are defaulting on their loans. You didn't expect them to make their loan payments and fuel the US housing recovery at the same time did you.

Thu, 09/20/2012 - 01:55 | 2814014 chump666
chump666's picture

war drums:

*USD/KRW trades above 1123 as China class 3 military alert does rounds

Thu, 09/20/2012 - 03:08 | 2814066 lolmao500
lolmao500's picture

Where are you getting this???

Thu, 09/20/2012 - 02:02 | 2814018 chump666
chump666's picture


*China has dispatched warships near Diaoyu Islands -Chosun

Thu, 09/20/2012 - 04:33 | 2814122 lolmao500
lolmao500's picture

Yeah 2 frigates have arrived near the islands.

Thu, 09/20/2012 - 03:05 | 2814064 Equites
Equites's picture

This is the best tell for an economy that is about to temper its tremendous growth, which has helped our Western world quite a bit over these decades. Nice report by PwC - really painful for Chinese private sector that will implode for another decade, for social unrest in the land itself... 

Thu, 09/20/2012 - 03:12 | 2814069 Cosimo de Medici
Cosimo de Medici's picture

You didn't make those loans go bad;  the Japanese did!

Nobody could have seen his coming.  The shadow banking system in China (now $1.8 trillion in theory, much less with defaults) only charges 5-10% per month compounded for all those 'huge downpayments' we all know Chinese put down on the poorly constructed homes they buy.  Heck an economy growing at the mandated 8.88% should easily be able to generate that 75%+ per year vig.  Has to be somebody else's fault.

Thu, 09/20/2012 - 03:41 | 2814094 moskov
moskov's picture

What is this report trying to tell? I don't understand? No link of the source?

Thu, 09/20/2012 - 03:55 | 2814100 moskov
moskov's picture

No source, no evidence.

Another piece of garbage from a hedge fund to short China. Not worth reading

Thu, 09/20/2012 - 06:51 | 2814215 BigInJapan
BigInJapan's picture

Worth reading if you're short China.
The more who read, the more will short, making your argument null, void, and YOU'RE GETTING REASSIGNED!
It's to the eel farms with you.

Thu, 09/20/2012 - 04:16 | 2814113 aleph0
aleph0's picture


Definitely worth a listen.

Prof. Sinn puts the record straight ... while Ms. Adler tries to argue about what he is supposed to have said :

Katya Adler speaks to Hans-Werner Sinn, one of Germany's most influential and controversial economists, about the country's role in resolving the Eurozone crisis.


BTW ... "Sinn" means "sense" ,.. as in "common sense"

I am 100% for what Prof. Sinn says.

Thu, 09/20/2012 - 06:10 | 2814176 Reptil
Reptil's picture

they learned from the best LOL

Thu, 09/20/2012 - 06:32 | 2814195 muppet_master
muppet_master's picture

maybe the fart-tard QEorganizer

can tell bQE to BUY some chinese backed "securities"

yes he can...he can buy those defaulted loans !! LOL !!!

its all kenyanomics-zimbabweanomics

Thu, 09/20/2012 - 06:35 | 2814199 Shizzmoney
Shizzmoney's picture

Wait, Communists suck at collecting tax revenue?

You gotta be fuckin' kidding me!

Thu, 09/20/2012 - 06:37 | 2814203 muppet_master
muppet_master's picture

didn't scary halloween hillary clinton

made a speech to some chinese president, like 2-3 years ago and said something like:

provide a "SECURITY" blanket to the chinese citizens so that they can TAKE RISKS (ie BORROW)

yes she was trying to get the chinese president to institute the CLINTONOMICS: I LEFT YOU WITH A SURPLUS.

surplus of bs...nice SURPLUS OF DEFAULTED LOANS !!! freaking idiots!!!!!!!! few days ago, at Walgreen's saw photo of bill clinton on Globe magazine...i couldn't help looking at it, it was right before check-out...anyways, bill clinton is said to be living on borrowed time..frail and weak...said to have undergone some cosmetics procedures for his appearance at the Demon-rat-ic convention...NO i didn't watch any of the fecal matter.

Thu, 09/20/2012 - 06:45 | 2814209 muppet_master
muppet_master's picture


redistribute to the rich's PONZI SCHEME with his QEorganizer's 'abilities and talents' tells bQE


INFLATION BABY INFLATION for the peasants....


Thu, 09/20/2012 - 07:35 | 2814261 neptunium
neptunium's picture

You're so incredibly witty, I wish you'd write more...

Thu, 09/20/2012 - 07:11 | 2814233 polak potrafi
polak potrafi's picture

odleciec na Maksa


THE crisis is OVER! - said king Arthur kneeling in front of Guinevere. YES - added polubownie Sir Lancelot kneeling next to Arthur's knees:). AND this sword. That was standing between us, - US! - this time Lancelot really went over the board, and slightly dereaild the explanation being provided by the King. - We are going to shove into - YOUR sheathe!... and the whole hell just broke loose... The consort Queen was gaping open wide mouth on Sir Lancelot. - You've meant the sheath! - what gave her time to analise the set. What kind of show those two lovely guys are going to put up for me tognite I wonder... - said in her inners the queen. We were to blind to see it - said Arthur. And to proud to admitt it - added (this time in a normal way) Sir Lancelot. That sometimes - ... in a men's life - interrupted for the last time Sir eL. You realize that one man for one girl is not enogh - has finished the king.


Lut us face it. There are some people in the world that are holding pretty important policy in their hands. For example, those people live in Cina and decide about the demografhic policy.

So here is the thought... A law can be easily - weasly introduced. A girl can have more than one husband. Husband can have only one wife unless (exceptions for the rich guys). Demographic policy is that = one husband - one kid, two guys = two kids, three guys = ... everybody can cunt Chineese...

Thu, 09/20/2012 - 07:43 | 2814269 YHC-FTSE
YHC-FTSE's picture

We did the NPL of the top 10 PRC banks to death last year - good catch by ZH. Essentially, nothing has changed and they haven't even begun to do the Fed's "Bad bank", "Good bank", "TBTF bank" musical chairs that end with dumping the bad loans under the carpet, and making currency confetti. Imo, they don't need to follow the Fed's model. They might just bankrupt the insolvent institutions, put a few 7.62mm holes in the heads their bankers and their delinquent debtors (Mostly local govt thieves who are leaving China in droves to Australia and the US), then start again. It's a one party system, just like everywhere else pretends not to be, and nobody is going to complain. (Probably). Few exceptions aside, the Chinese public are just as sheep-like as our public. (famous last words - hopefully).

Thu, 09/20/2012 - 07:55 | 2814291 willien1derland
willien1derland's picture

Notwithstanding the fact that the NPLs are increasing -->CNY112.9 Billion = $17,910,681,800 in USD....Ummm, though I understand that credit proliferation in China, expressed as a percentage of Chinese GDP is north of 28.7%, $17+ billion, or multiples thereof, will not obliterate the Chinese economy....

Thu, 09/20/2012 - 08:28 | 2814371 polak potrafi
polak potrafi's picture

Oh comme on. Even ZH claims that in China the ratio of non performing loans to all loans is well below the safe-net of 8%. The rules for the rich guys: 1. For a certain (insert the input) fee you may legalize your enterprisse by providing a document that all girs subscribing into your business revoke unconditionally their right to posses more than one husband and fall back onto the old law (only one guy for a girl allowed). 2. Additions to the crowd: a) Every girl coming into your enterprise needs to revoke unconditionally her right to posses more than one husband. We shall be happy to accept such recognition for the following fee (enter input). b) it is not clear whether some form of acceptance shall be needed from the female side of this enterprisse for a certain fee. 3. Substructions: a) Every girl in your enterprisse is allowed to leave on a free filing to the closest law enforcement agency (sheriff, post office, biblioteka). b) Her file can contain a financial claim that shall be judged (yeah lawyers ?== i wlasnie wtedz yawsye mi sie wlacya jeyzk programistz.




Thu, 09/20/2012 - 08:34 | 2814384 pamriallc
pamriallc's picture

That's nothing.....$80 billion gross on a $9 trillion economy.

Thu, 09/20/2012 - 09:46 | 2814703 Overflow-admin
Overflow-admin's picture

Hard landing is turning into crash-landing

Thu, 09/20/2012 - 10:22 | 2814861 post turtle saver
post turtle saver's picture

For those of you watching, that's the difference between "cement" and "concrete".

Oh, and PAPER TIGER, anyone? Why am I not surprised.

Do NOT follow this link or you will be banned from the site!