China's Property & Credit Bubble

Buildings developed by China Evergrande Group that authorities have issued a demolition order on in Danzhou, Hainan Province, China, January 7, 2022. Picture taken with a drone.(Aly Song/Reuters)



The country’s property and credit-market bubble is now showing every sign of bursting — at a dangerous time for both China and the world at large.


The late American Enterprise Institute economist Herb Stein famously wrote that if something cannot go on forever, it will stop.


Mr. Stein might very well have had in mind the unsustainable, decade-old, property and credit-market bubble in China, which is now showing every sign of bursting. 

Compounding matters, it is doing so at the very time when the Chinese economy is experiencing a perfect economic storm as a result of President Xi’s zero-tolerance Covid policy, his attack on big business, and his ramping up of political tensions with the United States over Taiwan now coinciding with a severe drought. 

A Chinese economic slowdown would have major implications for the world. Not only is China the world’s second-largest economy; until recently, it was also the world’s main engine of economic growth and its largest consumer of internationally traded commodities.

Over the past decade, China’s economic miracle was heavily based on an unsustainable property and credit-led economic-growth model. 

That led to a situation where private-sector credit grew by more than 100 percent of GDP: a pace of credit expansion faster than that which preceded Japan’s lost economic decade in the 1980s, or that which preceded the 2007 bursting of the U.S. housing and credit-market bubble.  READ MORE...

Disney's Gay Agenda

During a staff meeting on Florida’s recent enactment of the Parental Rights in Education bill, an executive producer at Disney said she was advancing a “not-at-all-secret gay agenda” to insert queerness into children’s animation.

Latoya Raveneau, executive producer for Disney Television Animation, talked about how the studio’s treatment of her progressive ideas defied her negative expectations of the company, in a video obtained by journalist Christopher Rufo. Instead of vetoing her pitches for LGBTQ-friendly Easter eggs or overt references in her series, Disney gladly accepted and included them, she claimed.

“In my little pocket of Proud Family Disney TVA, the showrunners were super welcoming . . . to my not-at-all-secret gay agenda,” she said. “Maybe it was that way in the past, but I guess something must have happened . . . and then like all that momentum that I felt, that sense of ‘I don’t have to be afraid to have these two characters kiss in the background.’ I was just, wherever I could, adding queerness. . . . No one would stop me, and no one was trying to stop me.”

She said that when she joined, she assumed Disney would try to keep LGBTQ elements out of content for younger audiences, but she was pleasantly surprised.

“I love Disney’s content. I grew up watching all of the classics. They have been a huge informative part of my life, but at the same time, I worked at small studios most of my career, and I’d heard whispers. I’d heard things like, ‘They won’t let you show this in a Disney show.’ So I was a little sus when I started, but then my experience was bafflingly the opposite of what I had heard,” she said.  READ MORE...