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Real Estate Crash Weighs on China’s Economic Growth
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Falling apartment prices have erased the savings of millions of Chinese
households, but exports lifted the economy to 5 percent growth last year.
9 minutes ago
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The prospect of stagflation, indeed, is raising a growing amount of hackles on Wall Street these days on worries that the jobless picture isn’t getting any better and the cost of living—the primary effect of inflation—is rising.
“Their deliberate debasement of their currencies has led to a hallowing out of savings, productive investment and the middle class—leading to an exacerbated and prolonged economic malaise,” Michael Pento, senior economist at Euro Pacific Capital and frequent Fed critic, wrote in a recent analysis. “Bernanke may not believe in stagflation but that doesn’t make it any less a reality.”
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