China's 'Minsky Moment' and an inevitable second referendum

China's slowdown

Let's start with China today because yesterday the Chinese released their worst growth figures in 28 years. The 6.4% growth number was expected. Even so, the problems are large. Here's how Reuters described it yesterday:

China’s economy cooled in the fourth quarter under pressure from faltering domestic demand and bruising U.S. tariffs, d…

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