While in USA we foment "divide the races" China is auditing their cities. Where we see no problem Romney/Obamacare and a good tax increase will not cure, the Chinese are assessing the damage done by the boom.
"Crash training." Now that is witty. Leave it to marxists to get their facts exactly right. The question is will they get the prescription right. So far, so good.
We have the right tools, bankruptcy and repudiating debts, such as pensions, but if the GM bailout is any indication, expect the laws not to be followed. We live in chaos here, but that always precipitates anarchy, that order out of chaos.
Feel free to forward this by email to three of your friends.
The National Audit Office declared on Sunday that it will start a nationwide assessment of local government liabilities, which will address concerns about rising debt from overambitious development projects.
The announcement was made following Chinese media reports that the State Council has made the audit campaign one of its "urgent" tasks, and that all government auditors are being given crash training so they can start the audit as early as next week.
"Crash training." Now that is witty. Leave it to marxists to get their facts exactly right. The question is will they get the prescription right. So far, so good.
We have the right tools, bankruptcy and repudiating debts, such as pensions, but if the GM bailout is any indication, expect the laws not to be followed. We live in chaos here, but that always precipitates anarchy, that order out of chaos.
Feel free to forward this by email to three of your friends.
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