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’China bears and creative shorting
Japan is not only paying for the consequences of China’s cheap-renminbi policy with its persistently high yen and pressures on its exporters.
It is also providing a neat back-channel for renowned China bears,
Economists against Fed
More QE2 dissent — this time from the back of the classroom.
An open letter to Ben Bernanke via the Wall Street Journal:
We believe the Federal Reserve’s large-scale asset purchase plan (so-called “quantitative easing”) should be reconsidered and discontinued.
A Greek on Greece
Is Jim Chanos going soft?
He’s certainly soft on Papandreou’s plight, trying to sort out the Greek debt crisis, as this interview with Vince Veneziani at Clusterstock reveals…
You know I feel bad for my mother country in that they’re going through a lot of austerity now and I actually think that the Prime Minister and his team are doing the right thing.
China: ‘It’s simply because people are rich now’
How does this headline, from Thursday’s FT . . .
China lending and property prices surge
. . . square with this one, also from the FT, less than three weeks earlier:
China tells banks to halt lending
Of course,
Chanos: ‘We’re not calling’ for a China crash
“We’re not calling for an impending crash of China”, investor Jim Chanos told CNBC on Monday. Well thank God for that.
As CreditWritedown’s Edward Harrison notes:
[Chanos] is bearish on China because of an unprecedented credit-induced bubble in Chinese real estate.
Chanos on China
This CNBC video featuring Jim Chanos of Kynkos Associates is well worth viewing.
Example, on China:
Bubbles are best identified by credit excess, not valuation excess. And there is no bigger credit excess right now than in China.
“Short sellers are not the villains in this drama”
Jim Chanos of Kynikos Associates is one smooth short-selling operator, and as the Site that Supports our Shorts, we say this approvingly.
In an interview with Gillian Tett, he argues that politicians – and not short-sellers – ought to take the blame for the ongoing financial drama.