lt cap/Jester - OT - Speaking of things that look horribly fragile, but somehow keep defying gravity, this piece from the NY Times on China's currency and economy seem to somewhat eerily shadow our own skepticism, while events ignore such reality-based worries, and the markets kite ever higher:

nytimes.com/20...p-news

Excerpt - At the same time that even Mr. Zhu begins to question his own long-held pessimistic beliefs, he still can't quite believe that everything is as rosy as it seems:

"Mr. Zhu, of Tsinghua University, said he believed that the Chinese government could continue to postpone its problems. But he warned against complacency, saying China’s debt could cause problems if it were not watched carefully.

“When will the bubble burst?” he said. “When nobody believes it’s a bubble.”

I recall when lt cap warned, some years ago, about Chinese 'zombie banks' and the debt problem. Apparently, all that was just a delusion. And like Jester pointer out in a recent post, it's 'all good' - storm, no storm, doesn't matter, market loves it.