I had another interesting discussion with Michael Surkan of The Optimistic Bear on Friday. Among issues touched upon were the last week's stock market performance in the face of primarily positive economic numbers; foreign currency issues and their effects on globalization; emerging markets and whether their outperformance is genuine; the positive nature of various malinvestment liquidations; nanotechnology; the effectiveness of fiscal and monetary stimulus and quite a bit more. Interested readers may wish to have a listen:
Thanks again to Michael for having me on the show.
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4 comments:
China will bust worse than the US. It barely made the 50% level. Their debt is a phony and they are building huge amounts of unused capacity that is being decided by bureaucrats, namely different cities. Some cities are vacant.
mannfm1, you seem to have very interesting views & insights on China along w/ Matt, Mish, & Mike Pettis. It's apparent from your posts on this blog & Mike Pettis's. Do you have your own blog or something? I'd really like to see them, I think you are paying very close attention to China.
I whole heartedly agree with the poor near-term prognosis for China. The mal-investments that have occured there make the American property bubble look like child's play.
The vacant South China Mall, which is 2 times the size of mall of America speaks volumes about the problems with the Chinese economy.
http://video.iptv.org/video/1218530801
As Matt and I discussed in the podcast, China may well have a bright future in store but there is likely going to be a lot of pain along the way.
Roger,
mannfm11's blog can be found here:
http://mannfm11.blogspot.com
It's well worth reading.
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