The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Wednesday, June 8, 2011

China quietly has a financial crisis 1.5x bigger than the US credit crisis...

I've regularly argued that the centrally-planned, econo-political corruption in China is untenable in the very long-run, and will inevitably end in tears. But I've also argued that this will likely persist as the stable status quo for longer than China bears think. Well, you can read about the Chinese government quietly implementing a bail-out 1.5x bigger than the US Government's TARP program over at Zero Hedge and Reuters (note that these these numbers don't include Fannie and Freddie's conservatorship).