xjo weekend zoomba lounge, page-243

Jime Chanos interview about China's economic and financial conditions - Bloomberg.

http://www.investmentpostcards.com/2011/09/22/face-to-face-with-jim-chanos-3/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+wordpress%2FVYxj+%28Investment+Postcards+from+Cape+Town%29

Very bearish for bulk commodities and copper I suppose and companies that supply these.

60 million plus dwellings oversupply in second and third tier cities. Prices dropping. Total govt (when govt biz and local govt counted) could be well over 100% of GDP (or was it 200%). Massive level of defaults likely from continued excessive credit creation.

This does not sound too good for our exports, and even gold could take a hit because China is now such a big consumer of it.

Their latest PMI figure indicated their manufacturing is now declining.

The positive is that they have the funds to recapitalise everything with all those foreign reserves and just keep going foward for some more years, I suppose. They can just print their way out of their problems - this what they have done in the past.

Someone on CNBC said that RIO confirmed that China is slowing with the coking coal price being under some downside pressure (lower demand?). No doubt iron ore prices will take a hit.

Brazil has put a 30% tariff on some Chinese exports - trade war in the making?

Looks like the AUD will continue to fall for a while. Back to 90 cents by end of year?

Stay safe, and try to avoid CYD moments.

loki (goldbug feeling some concern about the POG, thank God for the declining AUD)