China Discovers Credit Cards

Oh man - if you thought the US could create a credit bubble, you ain't seen nothing yet.

The always entertaining Mogambo Guru of the Daily Reckoning comments that an increase in Chinese citizen credit card usage "is also in line with government goals."

This is a country that saves a huge percentage of their income, and has very little debt, so there is no shortage of dry powder raring to go. These people are not going to give up the amazing progress they've achieved over the past 5-10 years.

No matter what fate awaits the US, the commodity bull market is alive and well.