Monday, June 14, 2010

Prepare yourself (and your portfolio) for a coming debt crisis and a Chinese hard-landing (crash) 2010 - (update 17)

An 'unnamed' Chinese bank-regulator has hit the wires, let the truth be known...

*Says global economic recovery likely to be "slow and tortuous"
*Warns of risk from sovereign debt crisis, rising gov't deficits, U.S. fx rates
*Warns of increased risks from Chinese bank loans
*Urges attention on risks in real estate lending, says "credit risks may rise"
*Chinese banks face "quite large risk" from unwise lending to local govt units
*Warns some banks concealed fresh loans; says "latent risks cannot be tolerated"

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