What people don't realize is that China papered over its last two credit bubbles, those in 1999 and 2004. The banks were never bailed out - they just exchanged their bad loans for questionable bonds from quasi-state organizations. ↗
For some reason, on that sparkling afternoon last week, I actually saw the coal that was passing by and it set me to thinking how important coal was to our everyday lives when I was a little boy. ↗
The acts of the human race on the world's stage have doubtless a coherent unity, but the meaning of the vast tragedy enacted will be visible only to the eye of God, until the end, which will reveal it perhaps to the last man. ↗