Smart Money needs more time to unwind their positions. End of story.
An investor and an economist told me last week that anyone who says there will be any GDP growth is a liar. It should be negative, they said, because we’re talking about growth here. How could there be any growth from last year? It should be negative, the investor said. https://twitter.com/You_Shu_China/status/1231694771149774851 …
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And once thousands of bankruptcies roll through the system (including over-exposed financial institutions) a metastasising collapse is a distinct possibility. Let's say 30-40% loss of all private wealth in China could go up in smoke. You heard it here first.
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Maybe but feel like this was a story in the news every year in the aughts
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