The capex call, reconsidered and re-upped, hopefully with more success this time

Conditions for US investment look good, though we’ve all been wrong before…
Continue reading: The capex call, reconsidered and re-upped, hopefully with more success this time

Conditions for US investment look good, though we've all been wrong before...

Continue reading: The capex call, reconsidered and re-upped, hopefully with more success this time

Defensive credit creation and vicious circles in China

Today in Chinese circularity: “low profit leads to more credit required to fund investment, but given low investment efficiency the investment made may only generate sluggish profits in the future, which could then take us back to the difficult situati…

Today in Chinese circularity: "low profit leads to more credit required to fund investment, but given low investment efficiency the investment made may only generate sluggish profits in the future, which could then take us back to the difficult situation of more credit being needed to sustain investment."

Continue reading: Defensive credit creation and vicious circles in China