Hello fellow Rebel capitals, hope you're well.

So if you haven't heard, China is facing an economic crisis right now.

In fact, their Central Bank just came out at an emergency meeting and dropped rates. This is a big deal, not just for the

global economy, but likely for the U.S. economy as well. Let's get right into this article from Reuters. This is talking about

what the Chinese Bank just did yesterday, if I'm not mistaken, title, China Central

Bank unexpectedly cuts rates to support sputtering economy.

China's Central Bank unexpectedly cut rates, I believe it was by 25 basis points. This is the second time by the way in the last three

months and yes they did this yesterday in a fresh sign that the authorities are ramping up monetary easing efforts to boost a sputtering economic recovery or no recovery.

And let's rewind, guys remember the whole narrative was that China's reopening was going to be this economic boom

that this would lead to higher commodity prices and that China would support the global economy. But as it turned out, their boom was a

bust and that their property market continued to crash. We did a story on Country Garden the other day, which is the biggest real estate property group in China, far bigger than Evergrand.

And now we're seeing the, I would say the manufacturing sector in China which is

really the driver of the economy that's sputtering and now they're not coming

out and admitting this but if you look at some of the

fringe data you can kind of connect the dots and come to some conclusions.

But let's keep going with this article and we're going to go over to the New York Times. So analysts said the Let's

article and we're going to go over to the New York Times.

So analysts said the move open the door to

potential cut in China's lending benchmark loan primary.

Okay, tumbling credit growth and rising deflation risks in July necessitated more

monetary easing measures. I don't know it necessitated it but that's that's their

view. Market watchers said while default risks at some housing developers, we just talked

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