Refreshing Honesty from China

Wow, the Chinese can be refreshingly honest.

Both China and America are addressing bubbles by creating more bubbles and we're just taking advantage of that. So we can't lose. Lou JiWei

Alan Greenspan - Weasel

Sir Alan is desperately trying to weasel his way out of responsibility for the mess that we are in. Fortunately, facts and data preclude him from doing so.

Billion Dollar Ponzi Scheme of the Day

As I've said before, one of the marks of financial bubbles is the massive fraud that takes place during the bubble is overlooked (we can thank the Bush administration) during the bubble, only to be revealed as the bubble bursts. First Madoff, now Robert Stanford. There is probably more to come. Once again, if an investment looks like it's too good to be true, it probably is.