Off book accounting, credit derivatives and fat commissions to bankers…the story of China’s present credit crunch is all too familiar. And like the crisis that blew up the rest of the world in 2008, China’s mess is having global implications for highly interconnected capital markets and the world economy. Here is a direct video link.
See a more detailed explanation of what happened here: Loan Practices of China’s Banks Raising Concern
The percentage of Canadian households that have fallen into debt of more than 250 percent of gross income has doubled during the past ten years. Here is a direct link.
Yesterday on Canada Day I shared my all time favorite film with my daughter.
It has been many years since I last saw Educating Rita, but I have to say that it stands the test of time brilliantly.
I was amazed to find it here on line for free for anyone who has not yet had the pleasure.
Heartwarming, funny, valuable insight into the dynamics of class, education, enlightenment and the human condition.
It must be my working class UK heritage, as Billy Elliot remains my all time favorite musical as well. Definitely a theme here…
Cory’s Chart Corner
