China has 106 billionaires

[rodeodance]

http://www.reuters.com/article/blogBurst/topNews?type=topNews&w1=B7ovpm21IaDoL40ZFnNfGe&w2=B9KobpniDQffCOR77fHrDXw&src=blogBurst_topNews&bbPostId=ABQQ4ZSKSZVBz9e2Rsv348wBCGcYu8x6xTSAIHB2dXTuCl&bbParentWidgetId=B9KobpniDQffCOR77fHrDXw

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POSTED: Thursday, October 11, 2007


The following blog post is from an independent writer and is not connected with Reuters News. The opinions and views expressed herein are those of the author and are not endorsed by Reuters.com.


That’s up from 15 last year (according to Bloomberg TV)

Barron’s reports (behind their subscription firewall) that more than a few of new Chinese stocks available on US markets were reverse splits into shell corporations, something which should immediately arouse suspicion. Many of these stocks are currently zooming upwards for no apparent reason, defying gravity, amid reports of financial irregularities.

Beijing real estate floats like a bubble on a bubble

Asian bubble out of control thanks to US rate cut

What’s happening in China is a transformation event. Rarely before, if ever, have investors been able to make so much money so quickly with so little knowledge of what they are buying.

It’s too late to call Chinese stocks a bubble, when Asia’s No. 2 economy is experiencing a bubble in bubbles.

[soothsayer]

1. Basically no different than the US, then.