6 July

The world is swimming in debt. The Chinese as much as anybody. If it all goes boom, they're much smarter than us, they used their debt to build things. The rest of us used it mostly to turn our housing markets into giant casinos, and bid up the value of existing homes. Which means if it all blows up, we'll have absolutely nothing to show for it. At the same time most of our governments are madly rushing to undermine government itself - get rid of it or make it much smaller with free market fantasies, and tax cuts to undermine government, and leaders like Trump - meaning the Chinese and Russians will increasingly have the global stage to themselves. They must look at us and chuckle at how stupid we are. https://www.news.com.au/finance/economy/world-economy/will-australia-die-by-the-chinese-sword/news-story/cb1a9462931889f8160966b51cafda08