Who cares about what Sanford Bernstein thinks?
...“If credit allocation in China improves, the ultimate credit cycle and
economy downturn will be mitigated,” Werner wrote in an Oct. 21 note to
investors. “However, if China continues to rely on debt to fund its
economic growth, the country’s ultimate credit cycle will be more
severe.”...--AOSHQ quoting Bloomberg
Of course, 'continuing to rely on debt to fund economic growth' is only a problem in PRChina, right?
Noplace else, like (say) the US of A.
Nope.
Mighty Krugman tells us otherwise, you see.
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2 comments:
Krugman, like Krauthammer, doesn't have a leg to stand on.
Krugman looks like my uncircumcised penis. Complete with the herpes received from a Thai hooker.
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