China Sees First Credit Contraction in 20 yrs, Roaring Kitty Returns
Total Social Financing in China, a key metric of lending activity, went into negative territory this weekend for the first time since 2002 as the collapse of the Chinese property market has banks on the defensive and households unwilling to borrow to finance real estate buys. This is forcing the Chinese govts to intervene more and more in the country's economy. Meanwhile Roaring Kitty, AKA Keith Gill, the godfather of the meme stock movement in 2021, has returned to social media in a cryptic post that has excited his legion of followers and caused a substantial rally in GameStop shares.
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