He who places his hope on thee, O Virgin all-glorious, will prosper in all he does.

Inscription on Byzantine coin during reign of Romanus III

Tuesday, October 11, 2011

China's House Of Cards

China has been artificially propping up its economy for years on the backs of savers who aren't getting fair returns from state-owned banks. Now, China feels compelled to prop up its stock market to conceal economic weakness. Golly, does that mean that all of those government stats touting outsized growth were fiction?

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