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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.
Agreed. $10-20M is the range where I don’t think you can possibly complain about missing out on things. $100-150M, I think of as “fuck you money” i.e., no one but people willing to use violence including the state can touch you.
Above that, what money can do is provide you with political power. Local first and then, if you get into the billions, national and international. Elon Musk kinda impacted/impacts the war in Ukraine via Starlink, Bill Gates saved millions of African children without bothering asking for permission… Space, population control, longevity, AI, social media… All of these things are geopolitically potent and socially sensitive. I thought your expression for them “demi gods” wasn’t wrong…
It was a joke. I really doubt that I(we) could copy what he can do anyway. Could also be he got lucky…