UNDER CONSTRUCTION
Jim Chanos
Jim Chanos talks about China’s economy that is becoming ever more apparent that it is a bubble that is about to burst. China’s centrally planned economy has no pricing mechanism which is leading to shortages.
Jim Chanos said that China is a $5 Trillion economy that is investing $3 Trillion a year to keep the economy going. This is a truly unprecedented event. There is a belief that the smart money in China is investing outside of China while the American public is being asked to buy in through IPOs.
Chanos has great insight and you will hear some truly unique ideas from someone who has a great track record and doesn’t follow the masses. He will be proved correct sooner rather than later.
James Chanos, president of Kynikos Associates LP, and Stephen Roach, chairman of Morgan Stanley Asia, talk with Bloomberg’s Kathy Burton about the outlook for China’s economy.¶ They speak at the Bloomberg Markets Global Hedge Fund and Investor Summit in New York. (Source: Bloomberg)
Pretty great moment on CNBC this morning, when hedge fund manager Jim Chanos got into it with NJ governor Chris Christie on whether “uncertainty” — as many business leaders of the conservative bent would have you believe — is what’s holding back the economy.
Chanos, a Democrat, thinks that’s nonsense, and notes that businesses never have had certainty, and they certainly didn’t fret about certainty under Reagan or periods when taxes were being lower.
This was probably not the best example though, as Christie comes back and notes how absurd it is that any business owner would fret about the uncertainty of too-low taxes.
