"Biggest Bubble in History"

I have heard this common refrain numerous times in the past 5 years when talking about China, "China has a billion people that are yearning for middle class things like toasters, blenders and microwaves...so they will continue to be a growth engine for decades to come...thereby supporting the global economy."

Really??

What if China is a massive financial mess?  What if their economy is actually made up of cooked books?  What if corruption and pollution are so great in China that the whole thing comes down like a house of cards??  What if they are forced to cash in the $1+trillion of US Treasury Debt when their check book goes south?  How would that affect USA and the rest of the global financial system?

China bans journalists from writing about its $24 trillion debt bubble the biggest in history

The Financial Times reports that China has banned journalists from writing pessimistic articles about its economy, the latest in a desperate effort to prevent the $24 trillion Chinese debt mountain from imploding as local interest rates skyrocket.

Blame the Fed for its reduction of QE money printing last week. The three-month Chinese Shibor interest rate is up 80 points to 5.5 per cent over the past month. This is a credit squeeze as hot money is pouring out of China.

Most vulnerable are China’s so-called ‘wealth management products’ that are highly leveraged to juice gains. Fitch Ratings says this ‘hidden second balance sheet’ totals around $2 trillion. Indeed the sums of money involved in the Chinese credit expansion are huge.

Credit has been expanding at 20-30 per cent per annum for the past five years since the global financial crisis. That’s way ahead of 7.5-8 per cent official GDP growth

Total credit has ballooned from $9 trillion to $24 trillion in five years, and is now equal in size to the US and Japanese banking systems added together, the biggest bubble in history. It is obvious to many observers that much of the GDP expansion of the past five years is simply monetary inflation and an illusion created under a cloud of acrid smog.

The problem with any debt bubble is that all seems perfectly well until the bubble suddenly goes pop. China is now coming closer and closer to that point. The rich have gotten as much as they can out of the country before this happens in a movement of money unlike anything since the Russian oligarchs in the late 1990s. London’s two top real estate owners are Chinese, for example.

Here;  http://www.arabianmoney.net/gold-silver/2013/12/24/china-bans-journalists-from-writing-about-its-24-trillion-debt-bubble-the-biggest-in-history/

Holy bubble!!  That thing could really go POP!  I wonder how big of mess that popping bubble could cause?

We know the current global financial system involves all 190 nations running their own financial systems.  The Bible says a day is coming when most of the world will be under a GLOBAL financial system that is all linked together...one that requires a certain mark to buy or sell anything in it...and we know that the Antichrist will one day take over that system.

Could this news coming out of China be one more sign that the current system is about ready to implode?

If so, can the Antichrist be far away?

If so, could the rapture of the church be far away...which needs to PRECEDE the revealing of the Antichrist?

It would certainly seem that we are in the SEASON of the biggest event since Noah's flood.

"No man knows the day or the hour."

"But you brothers, are not in darkness that this day should surprise you like a thief."

Hat tip to Jared F.