Hedge fund manager and CEO of Heyman Capital Managemnt Kyle Bass says that China\'s banking woes are just the beginning of their problems.

In a Bloomberg article, Bass claims that China\'s corporate bond market estimated at $3 million is freezing up due to rising defaults and canceled debts. \"The Chinese machine is breaking down. I mean the wheels are literally coming off the wagon,\" said Bass.

China has a very tepid economic growth market. As of May 2015, about 188 companies have either shut down or delayed debt sales.

Bass,  sub prime crisis, blames China for his hedge fund performance over the last two years. Although there is no immediate sign of collapse, junk-rated Chinese debt continues to spiral downward. Bass rose to fame on the wave of the 2008 mortgage crisis. While Bass continues to sound the alarms, some hedge fund managers say he\'s over exaggerating the problem.

Kyle Bass is known throughout the banking industry for his wild predictions. The Fort Worth native graduated from Texas Christian University. After working for Bear Stearns, he struck out on his own to create Heyman Capital in 2005.

Bass\'s claim to fame is correctly predicting the banking crisis of 2008. He bet against the mortgages and made a bundle. Since then, correct predictions have been few and far between.

Bass has come under fire also for keeping company with some unsavory people. The list is long. Former Argentinean despot Kristina Fernandez de Kirchner is one of his best buddies. After ravaging her own country\'s finances and tanking the economy, Bass gladly rushed to her defense. He also had some dealings with Chris Kyle\'s widow Tara, who has nothing good to say about him.

His partnership with Erich Von Spangenberg, CEO of Coalition For Affordable Drugs, is by far the most odious. Spangenberg, widely regarded as a crook, has turned the pharmaceutical industry on its ear. Their unholy alliance consists of challenging patents, watching the stock prices drop then move in to make millions. Forget about the millions of sick people who need the drugs.

In the meantime, nearly all of Bass\'s predictions have gone by the wayside. \"He\'s untrustworthy, said industry insider Jim McTeague. \"His word isn\'t worth anything.\"

This seems to be the general consensus of most people who have had dealings with Bass.