How to be a China bull @ China Financial Markets Michael Pettis dissects and challenges the notion that China’s high growth rate will continue in the next decade. High debt and misallocation of resources stand in the way.
Decline, Decay, Denial, Delusion & Despair @ The Burning Platform “I despair for my country that has chosen to eat, amuse and borrow itself to death. But my despair is deepest for my children and their future. The greed, corruption, myopia, selfishness, and disregard for the well-being of future generations by current and past generations has left a barren and bleak landscape for my children. The Huxley vision of America consuming and amusing itself to death is coming to a painful conclusion, as the limits of a fiat currency and debt based lifestyle become evident. Those in power are preparing the masses for a more Orwellian vision of America when they are forced to pull the plug on the existing paradigm.”
What’s Your Number at the Zero Bound? @ PIMCO The FED’s policies force the elderly to work longer… “low interest rates go hand-in-hand with high labor force participation among the elderly.”….”Work a little longer. Save a little more. Get by with a little less. It’s like each of our numbers is tied to a hot air balloon that seems to rise higher as we get a little closer.”