Car sales are soaring by 48% to a 12 million unit annual rate. Consumer spending is exploding. Property is going crazy, with prices and volumes back to all time highs. The bubble is back. No, I’m not talking about the US, dummy, it’s China. I’m amazed that the Middle Kingdom’s car sales have exceed those of the US for the first time in history without a peep from the press, a feat that Germany and Japan were never able to pull off. It just shows how much time we are wasting gazing at our own navel. Too bad they don’t have enough roads to drive them on. The big question is how long until China take over the world market? See my earlier piece on BYD Motors at www.madhedgefundtrader.com/June_26__2009.html. That’s what happens when your stimulus package gets spent on stimulus, and not on a 12 year backlog of pork.