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kdakota630 (29.76)

Chanos: Huge China Crash Coming

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November 12, 2009 – Comments (10)

To the growing number of China bears, add Kynikos hedge fund manager Jim Chanos, who is reportedly shorting the entire Chinese economy.

Chanos, among the first to see through Enron’s web of accounting tricks, told Politico.com he sees a similar situation evolving in China — starting with the fact that the $4.3 trillion Chinese economy is under-performing despite a $900 billion stimulus program.

Also, China seems to be cooking its books, making claims such as a huge surge in car sales while gasoline sales stay flat.

Full article

10 Comments – Post Your Own

#1) On November 12, 2009 at 4:30 PM, ChrisGraley (29.74) wrote:

rut roh Elroy!

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#2) On November 12, 2009 at 4:35 PM, catoismymotor (< 20) wrote:

Thanks for drawing our attention to this.

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#3) On November 12, 2009 at 4:56 PM, goldminingXpert (29.55) wrote:

Yup, China is doomed. They're going to make the Japanese crash of 1990-today look like small potatoes. 

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#4) On November 12, 2009 at 5:00 PM, Zgbolympia (< 20) wrote:

Not so quick, this story is to easy...and chinese economist are not kids to play like that( i am not Chinese, hello from EU)

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#5) On November 13, 2009 at 11:59 AM, Bays (29.97) wrote:

I wouldn't feel confident betting against Jim Rogers. Just my opinion.

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#6) On November 13, 2009 at 12:08 PM, kdakota630 (29.76) wrote:

Bays, I agree, which is why I wanted to call this article to people's attention.

I think China is the place to be investing in, but perhaps Jim Rogers' timing is off.  He has claimed to be the world's worst market timer.

Definitely food for thought, in my opinion.

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#7) On November 13, 2009 at 12:09 PM, starbucks4ever (97.89) wrote:

"Yup, China is doomed. They're going to make the Japanese crash of 1990-today look like small potatoes. "

Agreed. At least Japan hasn't desintegrated into a bunch of small countries.  

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#8) On November 13, 2009 at 12:11 PM, kdakota630 (29.76) wrote:

Actually, let me correct my statement.  I wouldn't say China is THE place to be, but one of them.

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#9) On November 13, 2009 at 12:16 PM, Counterparty (< 20) wrote:

They'll be fine with just over 1.3 billion people now..

It seems wishful thinking to assume that China would suddenly start underperforming the EU and US.

They're already taking measures to control the credit flow again and also thinking about appreciating their currency somewhat compared to the dollar and other currencies.

Besides, they shouldn't have nearly as much trouble paying for their stimulus package(s) as we will in the US and European countries.

 

 

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#10) On November 13, 2009 at 2:32 PM, Bays (29.97) wrote:

Kdakota,

I've heard him say that about himself many times in interviews.  Somehow, he manages to stay humble.  The man, IMO, is an investing legend.

Cheers

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