China’s banks are an accident waiting to happen to every one of us – Telegraph

China’s banks are an accident waiting to happen to every one of us

Fitch Ratings has been warning for some time that China’s lenders are wading into dangerous water

By Ambrose Evans-Pritchard

Published: 5:38PM BST 28 Jun 2009

A growing number of experts are casting doubt on China’s ability to pull the global economy from recession

A growing number of experts are casting doubt on China’s ability to pull the global economy from recession

China’s banks are veering out of control. The half-reformed economy of the People’s Republic cannot absorb the [$1 trillion] blitz of new lending issued since December.

Money is leaking instead into Shanghai’s stock casino, or being used to keep bankrupt builders on life support. It is doing very little to help lift the world economy out of slump.

via China’s banks are an accident waiting to happen to every one of us – Telegraph.

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Honduras Defends Its Democracy – WSJ.com

Honduras Defends Its Democracy

Fidel Castro and Hillary Clinton object.

By MARY ANASTASIA O’GRADY

Hugo Ch├ívez’s coalition-building efforts suffered a setback yesterday when the Honduran military sent its president packing for abusing the nation’s constitution.

It seems that President Mel Zelaya miscalculated when he tried to emulate the success of his good friend Hugo in reshaping the Honduran Constitution to his liking.

via Honduras Defends Its Democracy – WSJ.com.