Jim Chanos - China Is On A Treadmill To Hell
Better late than never. Chanos, Rogers, Schiff, Wall Street, all economists, Thomas Friedman, McKinsey, multi-national companies, society and just about every damn person on earth missed the collapse of China's financial markets. We didn't. :-) Just about everyone on earth bought into the myth of China at one point or another. We didn't. Not because of being a contrarian but because we understand the global economy. It's quite apparent none of the experts actually are experts, eh?
Jim Chanos is a very, very talented financial mind. I would highly recommend you tune into The Charlie Rose Show and watch his interview. I haven't looked at the schedule but you should be able to Google Charlie Rose and find it. For those of you living internationally, either Bloomberg or most certainly PBS will have a video feed on their website or at Youtube.
Chanos is focused on real estate in China. He is right in that regard but he is wrong as to the size and scope of the bubble. As we have discussed the China bubble has been building for more than a decade. It is a capital bubble. Something absolutely no other person on earth is talking about. Still. That is, except for us. That is one reason why I keep harping on the fact that China's "supposed" savings and its foreign exchange surplus is a myth. That China is broke but no one yet realizes it. Remember, we anticipate China's GDP could fall by 30-50% long ago. Ain't no one else talking about those numbers either. And we were writing of this against the massive onslaught of every single media source, financial mind, Wall Street, society, business exuberance, etc before the world collapsed. Every supposed expert was duped. Every single one of them.
Why do I keep telling you this? Because one wish I have is that everyone would quit listening to the babbling bullshit of politicians, Wall Street, CEOs, etc. I want people to quit selling out their abilities. Educate yourself and make your own decisions. Even if you are wrong, you will be right more than any of these people will be. And you will always be right more often as it pertains to what is best for you and your family. Listen to yourself. Embrace yourself. Embrace your own reasoning abilities. Your own intuition. Trust yourself. As the great Buddha told us, the only source of truth comes from within. That is how we save the world from these incompetent elitists. That is how you make a difference.
By the way, how come I'm not on Charlie Rose? I wrote of this years before Chanos. Before anyone else. And apparently I could give a better interview if Chanos believes this is a real estate bubble. Hahaha. That'll never happen. Who wants to listen to some unknown hick when they can listen to all of the famous experts who consistently get everything wrong. :-) Mostly because they too listen to everyone else rather than embracing scientific discovery, the search for truth or the path of the buddha.
Change the world. Believe in your ability to make a difference.
Bloomberg link here.
Jim Chanos is a very, very talented financial mind. I would highly recommend you tune into The Charlie Rose Show and watch his interview. I haven't looked at the schedule but you should be able to Google Charlie Rose and find it. For those of you living internationally, either Bloomberg or most certainly PBS will have a video feed on their website or at Youtube.
Chanos is focused on real estate in China. He is right in that regard but he is wrong as to the size and scope of the bubble. As we have discussed the China bubble has been building for more than a decade. It is a capital bubble. Something absolutely no other person on earth is talking about. Still. That is, except for us. That is one reason why I keep harping on the fact that China's "supposed" savings and its foreign exchange surplus is a myth. That China is broke but no one yet realizes it. Remember, we anticipate China's GDP could fall by 30-50% long ago. Ain't no one else talking about those numbers either. And we were writing of this against the massive onslaught of every single media source, financial mind, Wall Street, society, business exuberance, etc before the world collapsed. Every supposed expert was duped. Every single one of them.
Why do I keep telling you this? Because one wish I have is that everyone would quit listening to the babbling bullshit of politicians, Wall Street, CEOs, etc. I want people to quit selling out their abilities. Educate yourself and make your own decisions. Even if you are wrong, you will be right more than any of these people will be. And you will always be right more often as it pertains to what is best for you and your family. Listen to yourself. Embrace yourself. Embrace your own reasoning abilities. Your own intuition. Trust yourself. As the great Buddha told us, the only source of truth comes from within. That is how we save the world from these incompetent elitists. That is how you make a difference.
By the way, how come I'm not on Charlie Rose? I wrote of this years before Chanos. Before anyone else. And apparently I could give a better interview if Chanos believes this is a real estate bubble. Hahaha. That'll never happen. Who wants to listen to some unknown hick when they can listen to all of the famous experts who consistently get everything wrong. :-) Mostly because they too listen to everyone else rather than embracing scientific discovery, the search for truth or the path of the buddha.
Change the world. Believe in your ability to make a difference.
Bloomberg link here.
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