Eugene David
...The One-Minute Pundit

Tuesday, November 06, 2007


But many analysts argue that there is nothing underlying the skyrocketing valuations - or, sometimes, that the companies' obscure finances make it impossible to know. And if the Chinese stock market is a bubble, the new billionaires will disappear as quickly as they rose, since much of their wealth was generated by the stock markets, as well as by the Chinese real estate boom and the Chinese economy, the fastest-growing in the world.

I think we've heard this song before.

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