What If the All-Powerful State…Isn’t?
Bill Quick

AP survey: China’s lending bubble a global threat

WASHINGTON (AP) — Just as the global economy has all but recovered from debt-fueled crises in the United States and Europe, economists have a new worry: China. They see a lending bubble there that threatens global growth unless Beijing defuses it.

That’s the view that emerges from an Associated Press survey this month of 30 economists. Still, the economists remain optimistic that Beijing’s high-stakes drive to reform its economy – the world’s second-largest – will bolster Chinese banks, ease the lending bubble and benefit U.S. exporters in the long run.

These guys all have the idea that the state can handle or solve any problem, that market forces, economics, and history are powerless to move events against the will of the state. One of these days they are going to be proven wrong. Dead wrong.

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Bill Quick

About Bill Quick

I am a small-l libertarian. My primary concern is to increase individual liberty as much as possible in the face of statist efforts to restrict it from both the right and the left. If I had to sum up my beliefs as concisely as possible, I would say, "Stay out of my wallet and my bedroom," "your liberty stops at my nose," and "don't tread on me." I will believe that things are taking a turn for the better in America when married gays are able to, and do, maintain large arsenals of automatic weapons, and tax collectors are, and do, not.

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