World Bank warns: China is a ticking time bomb-China & USA Rich Are BOTH Self-Destructing [View all]
Feb. 28, 2012, 12:01 a.m. EST
World Bank warns: China is a ticking time bomb
Commentary: Will Super Rich in China or U.S. be first to trigger meltdown?
China’s Super Rich and America’s Super Rich are both self-destructing
Meanwhile back home, Washington, Wall Street and Main Street are so transfixed on our bizarre 2012 election drama, “American Idol” and other titillating reality shows that most fail to see what’s happening outside our narrow vision — like the World Bank’s game-changing new report predicting China’s headed for a major collapse that will sabotage the global economy.
Yes, a collapse of China. And what’s really fascinating is how China’s predictable doomsday scenario parallels America’s. Yes, we know America’s elite Super Rich gained virtual control over Washington the past three decades. And now, ironically, that same bizarre capitalism is sabotaging the goose that laid the golden egg for China’s Super Rich too.
In that game-changing study just released by World Bank President Robert Zoellick we’re “warned of a spreading crisis,” says Reuters.
Get it? The cause of China’s problems is exactly like America’s. In both nations, a new, powerful Super Rich is aligned with politicians — will eventually self-destruct. The World Bank warns that China’s corrupt state-owned companies have created a Chinese Super Rich class aligning communist party bosses and corporate executives.