Russell Napier: Give Everybody In China A Credit Card

Russell Napier: Give Everybody In China A Credit Card by Merryn Somerset Webb, MoneyWeek

Merryn Somerset Webb talks to economic strategist Russell Napier about quantitative easing, Brexit, and how to get China spending.

Q&A with Russell Napier

Merryn: Hi, I’m Merryn Somerset Webb, editor-in-chief of MoneyWeek magazine. Welcome to another one of our videos. We are super lucky today; I have with me Russell Napier, who, among many other things, is the author of this book, Anatomy of the Bear. Now, I’m afraid that when you read this, and I really hope you do, you’ll find a rather gushing introduction from me at the beginning, because I do think that Russell is one of the greatest economists of our time. Russell, how about that?

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Russell Napier: I prefer strategist to economist.

Merryn:  OK, strategist, of course, yes, he’s not an economist; not an economist, a strategist.

Russell Napier: Well, the economic profession is in some disarray. The strategy profession has always been in disarray; I prefer the latter.

Merryn:  OK, so the only way is up for a strategist really.

Russell Napier: Absolutely.

Merryn:  OK. Well, what we’re going to talk about today is where the world is, where it’s going and what our strategy as investors should be on the back of that. We last talked about a year ago, year and a half ago, and things have moved on considerably since then. You weren’t looking then for a deflationary scenario that’s playing out quite nicely. And since we last talked we’ve begun to see interest rates go lower and lower and now turn negative.

So let’s talk about that first, is that a policy you approve of or one that you think might work?

See full transcript here.