THE FICTION PEDDLERS

Here's more on the horrible state of the Chinese economy which is the major reason--though it will be denied--for the Fed's abrupt reversal on interest rates. It also part of the cheerleading from the closest friends of the Fed at the big Wall Street banks and MSM parrots who repeated what they're told.

China's credit growth in March (and $1 trillion surge in total social financing in Q1) is a "warning sign"according to billionaire George Soros, "because it shows how much work is needed to stop the slowdown." Speaking at an event in new York this evening, Soros commented on "troubling developments" in China, the anti-corruption drive's impact on capital outflows and the real-estate bubble "feeding on itself." His conclusion, rather ominously, was that despite all the naysayers and fiction-peddlers, China "resembles US in 2007-8," before credit markets seized up and spurred a global recession.

As Bloomberg reports, Billionaire investor George Soros said China’s debt-fueled economy resembles the U.S. in 2007-08, before credit markets seized up and spurred a global recession.

zerohedge.com/news/2016-04-20/george-soros-warns-china-resembles-us-2008-hard-landing-practically-unavoidable