Breitbart – by Chriss W. Street
China’s Shanghai futures market crashed by the maximum 10 percent, and trading was suspended on January 19th, while Shanghai Composite Index fell by 7.7 percent. Both events were the worst day of trading since shortly after the Lehman Brothers bankruptcy launched the financial crisis six years ago.
Such an event in the U.S. would be epic, because Americans have 70 percent of household wealth in financial assets, but in China, 75 percent of household wealth is in real estate. If a real estate crash took place in China, it could set off the type of “black swan” event to cause an ugly international panic. Continue reading “Collapse of China’s Real Estate Could Be Next Financial “Black Swan” Disaster”