China’s economy is a mess. They created the world’s biggest credit bubble in history after the financial crisis, creating tremendous imbalances–vast overproduction in non-renumerative businesses. Their bubble has burst, and the millions of apartments built simply as a financial hedge, with no one to live in them, continue to decline in price. The vast stimulus […]
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So why do politicians, left and right, want to emulate the Chinese on industrial policy?
29 Jul 2024
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How far will the stock market fall?
21 May 2022
We’re in a bear market now, even if the S&P500 managed to claw above the oft-quoted 20% down definition on Friday. Importantly, the standard 20% off the highs is only the symptom of the bear market that rages. Bear markets emerge to bring reality to false expectations of the future. Low interest rates beget speculation […]