In China Things Head South Quickly

In 2016 I wrote an article in which I called China “The Red Ponzi”. My fans liked it but boy did I get flak for that. I was told that I don’t understand China and economic development in general. Late in 1995, a small but prestigious bank in Austria filed for bankruptcy protection. I remember the long lines of depositors before its headquarters. People lost a lot of money but those people were at least partly to blame. Years before the eventual collapse, the bank offered returns way above the general market. People flocked there and did not ask a lot of questions. Some lost everything they ever had. When something looks too good to be true, it usually is. Like China for at least 10 years now. There is not going to be a silver lining. 

In China Things Head South Quickly — Manhattan Contrarian

If you follow developments out of China at all, you have likely noticed a spate of bad news recently. For years, even decades, it seemed that China could do no wrong in its growth toward…

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