Chinese Steel Mills Still Running At Loss

What's the probability of a trade war in your economic model?

1 comment:

  1. SCMP has a new article today about the Chinese bond bubble that you'd like.

    These people are just going to increasingly irrational assets - first overpriced property, then useless remote property, then fake businesses, and now low-cov loans to bankrupt companies and local governments. It is as if the madness never ends!

    But I think the speed with which they flop from one asset to the next is so great that it is representing a conflagration of the monetary system. This is deeper than just too much liquidity, I think this is indicative of a loss of confidence in money itself. I'd love to say the end game is near (how could it not be?), but thus far I've been wrong for 4 years and counting.