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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (21687)	11/12/2004 12:25:15 PM
From: TobagoJack	Read Replies (2) of 110194

Russ, regarding the article ... <<But because of massive over-investment, lack of financial system sophistication, rigidity of a centrally planned economy, and staggering and growing inequalities, a hard landing seems inevitable>> ... doubtful, because (a) massive over-investment relative to what - China hadn't built a thing for 300 years, and 20 years of construction doesn't even make a dent in what is actually needed; (b) lack of financial sophistication will be a good thing; strapping a youngster who cannot walk on to a Harley is not astute; (c) rigidity of ... ?! Chinese economy in the aggregate has been the most rapidly changing, dynamic, and flexible infant over the past 20 years. Rigidity did not produce the China of today; (d) staggering inequalities, perhaps, but in the context of almost everyone being better off; and as to ... (e) "a hard landing seems inevitable" ... defining hard landing may help the discussion. Chugs, Jay

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