I wish I could give you 10 thumbs up. China is the only factor...

I wish I could give you 10 thumbs up. China is the only factor sustaining the over-leveraged Aussie housing bubble. China' s M2 ballooned from about 16 trillion in 2002 to about 110 trillion now. At current exchange rate, it is 1.7 times of the US M2. It''s economy is only 40% of the US's. If taking out the bubble part, maximum 30% of the US economy. It is just scary, and the Chinese Central government is losing control. Sit back, relax , mate. We are going to witness the biggest bubble burst in human history. Unfortunately, thousands of thousands of Aussies will become the collateral damage. I don't want to see that, but looks like nothing can stop it. By the way, kiwis made the right move to tighten the lending standard.