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Fate Of China’s Mega-Rally Depends On Fiscal ‘Big Move’
Perhaps the Chinese government gets the message. At long last.
On Wednesday, Zichen Wang published a translation of an interview with Jia Kang, in which Jia suggested China has scope to issue nearly $1.5 trillion in special debt with the proceeds earmarked for fiscal stimulus. He didn't specify a timeframe.
Wait, who's Zichen Wang? And who's Jia Kang, for that matter?
Good questions. Zichen's a Xinhua News veteran who founded Pekingnology, a widely-followed newsletter that counts as a must-re
Looks like Mr. Tepper made a good bet…
Man with money makes more money…
I swear I don’t understand why you folks care about those guys. I mean, I do understand it, but when you come from outside of finance — i.e., when this conversation isn’t your “natural habitat,” as it isn’t, or at least wasn’t, mine — it seems so bizarre. Like, he’s just some guy. Same with all the rest of them. Yeah, they’ve got billions, but some of my neighbors on the island had — I don’t know, whatever, let’s call it $75 million, $100 million, $150 million. It’s just money. It matters a helluva lot until you have enough, at which point it ceases to matter at all. And contrary to popular belief, enough is enough at some point unless you’re a hopeless dolt. Once you have enough money to buy some of the stuff you dreamed of buying as a 13-year-old, more of it on top of that ceases to have any incremental impact on your capacity to enjoy life. Anyone for whom that’s not true — i.e., anyone for whom incremental financial windfalls on top of, say, $10 million, actually do accrue as “happiness” — is a person whose mind is pitiably short of the enlightened threshold.