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Thursday, January 27, 2011

Is the Jim Chanos China Bubble Prediction Correct? Over a Billion Chinese Passionately Disagree!


China has been on a serious roll the past few years, and some say they are on track to take over the U.S. as the supreme super power in the world.  As such, many of the experts (or so-called experts) have jumped on the China bandwagon and get seriously riled up when anyone takes pot shots at the powerful rise of this communist nation.  In comes Jim Chanos.
Watch Jim being interviewed by Charlie Rose in 2010 explaining his Enron and China predictions for less than $25 at Amazon:  Charlie Rose - James Chanos / Stephen Green
He's the same guy who predicted the downfall of Enron and Tyco, as well as the Financial Market Crash of 2008.  He's also made billions of dollars in the process.  In direct contrast to all of the China bulls, this poster boy for the bears is predicting a major fall from the grace for this great Asian country in the coming future.  His reasoning is that the residential home builders and contractors are extremely over leveraged throughout the country, and that their housing bubble will mirror the same burst that the U.S. suffered 3-4 years ago (as well as what happened to Japan in the late 80's).

Although he's had a great track record of success predicting some of the most serious failures in the past, the bulls think he's out of his friggin mind, and put him down (and some beyond passionately) whenever they get the chance.  It's as if China is the holy grail and is untouchable in the eyes of those "experts".  But come on, we've had short sellers and put buyers in play for over a hundred years, and those investors never suffered the kind of attacks that Chanos gets. 

Stop the High School hatred China lovers, and start focusing your efforts on more productive behavior.  You never know, the guy could be right again this time.

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