The whole China story is turning into a bad joke.

This latest development is particularly troubling, as the Chinese government appears to be singling out a respected business journalist for their joke of a stock market. Read about the forced confession here.

The game in China has always been rigged. It was easy to keep playing this rigged game as Chinese industry fueled massive growth, the much of the fruits of that labor has been wasted on unnecessary projects and plenty of graft and corruption.

Throw in a new leader obsessed with consolidating power and promoting Chinese pride and strength over addressing real economic issue, and now you have real problems. Xi Jinping may turn out to be a complete disaster for China.