Wow, when is she gonna pop? Remember when you hear Republicans complain about government spending, most of them were right in there with Bush spending like there was no tomorrow. Debt went from $24 Trillion in 2002 to over $50 Trillion in 2007. Their hands aren't clean either! We need a "Mulligan" on all of Washington right now.
Agree that China is the biggest bubble to pop. Just google "China Ghost Cities." You will see how ridiculous their real estate bubble is. MILLIONS of vacant homes. MILLIONS more that can't be sold. MILLIONS of empty storefronts at commercial shopping malls. Not to mention, the price on these properties are ridiculous the common person in China can't afford it. GDP growth in China may be 9% but inflation is over 4.5%. Real GDP growth is only 4.5% if you believe the Gubmint figures, which I don't. Inflation will keep going higher until China allows their currency to float on the market. A stronger Yuan will give China moderate inflation, but exports would suffer. You can't centrally plan without consequences. We may have our problems, but China is in worse shape than many believe.