Last Wednesday we noted there is something rotten in the state of Denmark, meaning that the world’s great potemkin village of Bubble Finance is unraveling. The evidence piles up by the day. To wit, now comes still another story about the Red Paddy Wagons rolling out in China. This time they are rounding-up the proprietors of a $7.6 billion peer-to-peer (P2P) lending Ponzi called Ezubao Ltd.  Ezubo investors lined up outside a government office in Beijing last month; having shut down the online peer-to-peer investing. The particulars of this story are worth more than a week of bloviating by the Wall Street economists, strategists and other shills who visit … Continue reading Slouching Towards the Dark Side