Kynikos Associates founder Jim Chanos was on Squawk Box this morning to tell Europe that they are living in a fantasy world.

 

Some quotes:

  • 0:43: Chanos points out that people take what his fund is saying too far, they don’t think China is going to collapse.
  • 0:54: “China won’t save anyone but China”
  • 2:08: Jim Chanos addressed the idea that Jim Cramer tweeted out saying Chinese funds may help Europe — the Chinese have funds already, “there’s not  just some free pot of money waiting to be deployed.”
  • 3:25: “The Chinese banking system isn’t read for this (a real estate bubble)… (3:39) it was never properly bailed out in the last 2 crises, just papered over.
  • 4:30: The Chinese banking system should thank Greece and Italy for keeping the attention off of it.

 

Full video below:

H/T to BusinessInsider