Statements by President Xi and China central bank chair, Zhou, indicate China is about to shift economic focus again to attack financial speculators and shadow bankers and allow its real economy growth to slow as it does so. What does this mean for global real economic growth? Dr. Rasmus reviews today’s 3rd Quarter US GDP announcement, and why it reflects conditions in business investment, household consumption, and government spending that are weak. Why US GDP stats overestimate summer quarters and underestimate winter quarter growth. China’s PBOC Zhou warns of a growing ‘Minsky Moment’. What it means for China, and US stock-crypto-junk bond bubbles that continue to grow. Rasmus reviews last week’s decisions by the European Central Bank for a token reduction in QE and free money. Bank of Japan keeps its QE going. Why 21sts century capital is increasingly being subsidized by the State—with free money by central banks and more tax cuts for corporations and investors. (Next week: The US Congress further defines the Trump Tax Cuts).