China Still Teetering on a Precipice.

Another gem from Michael Shedlock. You should read the whole thing if you can't figure out why he concludes his article as follows:

" . . . central bankers assume the global economy is in recovery. In reality, the global economy is in another speculative binge fueled by reckless global stimulus, with China at the head of the pack.

"Meanwhile, global imbalances grow with most eyes on Greece and Spain. Let's not forget the massive property bubbles in Australia and Canada, and massive speculation in China. In the US, cities and states are on the verge of bankruptcy.

"Something is brewing alright. That something is "trouble", and not just for China."