By Daily Crux Editor Justin Brill:
Another China bear is making news this morning. This time, it’s James Rickards, former general counsel of hedge fund Long-Term Capital Management, and now senior managing director for market intelligence at Omnis Inc.
Rickards cites loose monetary policy and leveraged speculation as the reasons China is “the greatest bubble in history with the most massive misallocation of wealth”… and a “bubble waiting to burst.”
Rickards is worth paying attention to. He makes some interesting points. And as an insider at the failed Long-Term Capital hedge fund, he should know all about leveraged blowups…
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