Cramer either ate something or just plain went bonkers. On yesterday's show he declared that China is the main driving force of the world economy.
I have two main objections:
1. The Chinese economy is export driven, the U.S. being the biggest importer. Whatever China produces, where are they going to sell it?
2. The Chinese stimulus is actually an unprecedented pumping of money into unneeded real estate and industrial projects . The idle steel production capacity exceeds the full capacity of Japan and South Korea combined; a new-build empty city (for a million people!); the biggest mall in the world with 99% vacancy, what other proofs do you need? The Chinese economy is in a bubble, a huge bubble even compared to U.S. real estate. When that one bursts, nobody would be happy.