The chart of the week is courtesy Bloomberg and shows the maniacal credit boom in china. The credit to GDP ratio in China has breached historical levels and has entered into dangerous territory eclipsing levels seen before recent busts in 2008 and 2015. Another hard landing looks certain:
Elon Musk Admits Tesla Ads Were 'Far Too Generic' After Laying Off US
Marketing Team: 'Could've Been Any Car'
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The EV giant has removed its newly formed marketing team as part of the 10%
companywide layoff announced last week.
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33 minutes ago