Sunday, May 13, 2012

Sunday Night

"If China were a normal country, it would be hurtling into a brick wall. A "hard-landing" later this year would already be baked into the pie. [...] The Yangtze shipyards tell the tale. Caixin magazine said eight of the 10 largest builders in the country have not received a single new order this year."

Latest Hussman: "'If this is what it's like at a relatively benign moment, what is it like in the future?' In my view, the first glimpse of the future is likely to come out of Europe. In the coming quarters, we are likely to see a wave of European banks going into receivership - either being nationalized or restructured."

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1 comment:

Taylor Conant said...

On China:

Don't worry. I heard some babbling idiot with a British accent on CNBC radio this evening (don't ask) talking about how worldwide growth was guaranteed because stimulus was guaranteed. There would be no hard landing anywhere. Stimulus will save the day, and wipe our buttholes for us.

Get your toilet paper ready!