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Michael is a fellow traveller of Kyle Bass, and Kyle, as you should know, lost a whole lot of money betting on Michael's take
Michael is an evergreen China-bear
For China economy, I follow Michael, for giggles, and I tag Louis, for counter-giggle
There is a fundamental difference between USA debt and China debt, and easily discernible by ocular inspection, in the case of China, and not so much if at all in the case of the US. IOW, not all debts are the same.
As far as the sad state of real estate in China is concerned, yes, the developers are done-done, homes getting cheaper, officialdom have little intention to rescue except to take over and complete projects, and homes shall hence forth cease to be an object of speculation, and revert to what was meant, places where folks live in. Isn't that simply wonderful?
Common prosperity / joint destiny, etc etc all-good.
For speculation, folks can try HK industrial lofts, gold, and such
