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Black Swan Chronicles: American-Style Credit Card Debt Default Starting In China

3 Responses to “Black Swan Chronicles: American-Style Credit Card Debt Default Starting In China”

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  1. Sean says:

    Hi, I’ve started to put together a few bits and pieces on spread betting if anybody is interested Trading Spreads any comment of feedback would be much appreciated

    Sean :)

  2. Caldera says:

    “Nice to see that the US have succeeded in exporting their irresponsible behavior to other countries.”

    That’s a bit opinionated, don’t you think? Or did the news article have that exact quote?

    Or could this quote, “By June 30, China’s banks had issued 162.62 million credit cards, or 0.12 per person, up 32.9 percent from a year earlier,” have more to do with the problem?

  3. Free Mind says:

    Caldera, I was expressing indeed an opinion at that point.

    But the principle of irresponsible credit distribution to penniless people originates in the US, not in China.

    China is merely replicating the US phenomenon, albeit on a shortened scale.

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