Bill Bonner: A Monumental Change in the World’s Monetary System

Bill-Bonner2

“The Chinese economy is still growing twice as fast as the US. Both are delusional figures, of course. Buying things with money you don’t have makes you no better off than making things for people who can’t pay for them.  But the delusion is only part of the story. The other part: China is poor and getting wealthier. The US is rich and getting poorer. Somewhere they will battle it out… maybe in the marketplace… maybe in a hot war. And someday the upstart (if not China, then someone else) will win.  In the meantime, Chinese stocks are in bargain territory. You can get a dollar’s worth of Made in China stock market earnings for just $7.  Each dollar of US earnings will set you back closer to $20.”

http://www.bonnerandpartners.com/a-monumental-change-in-the-worlds-monetary-system/

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