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Kyle Bass had China figured out a long time ago. Unfortunately for his investors, he figured it out earlier than the rest of the world did--resulting in some major underperformance for Hayman Capital in the past several years. Now, the Chinese economic house of cards has finally caught a puff of wind. I hope Bass makes back his billions by skinning the backs of the CCP transnational criminal organization. Couldn't happen to a nicer bunch of mafiosos.

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shipwreckedcrew.substack.com

@shipwreckedcrew

This is what happens when your friends run the Department.

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Benjamin Wittes

@benjaminwittes

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Also note that DOJ is paying McCabe’s legal fees….

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I'm not an economist by a long shot but I don't think you have to be one to see that the U.S. and China purposely developed a symbiotic relationship over the decades based for the most part on faux economics and leverage. They essentially agreed that they would provide goods to us at a discount price based on government subsidization. We in turn agreed to farm out all of our production capabilities to them and to support their membership in the world economy despite them not meeting any standards that should have been requisite of a true capitalist economy. World Peace and good will, doncha know!

Now we are both paying the price of a false relationship and a house collectively built on sand. There is no knowing how extensive and fast the collapse will be for both of us. Maybe the rest of the "developed world" will decide to prop US up; or perhaps they will futilely try to save themselves and the U.S. will quickly become "mystery Babylon." Time (and not much) will tell. World Peace? Time will tell on that, too.

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Faux economics: slave labor. I suppose there were some in America who thought to seed liberty through consumerism. From what I've been reading about China lately, it sounds as though we've seeded selfish entitlement instead (couldn't have predicted that!). They, on the other hand, have managed to corrupt many of our institutions and corporations. It's quite the relationship!

Perhaps your notion of the developed world propping up the US was tongue in cheek, but it's worth pondering: all things being equal, can we really imagine our 'friends' trying to save us? Whether or not they like us enough to attempt it, we're really too big to save.

And "mystery Babylon" has been on my mind a lot lately. For years I've resisted reading America into biblical prophecy but the description of MB fits America to a tee, so much so that if it's not us then it's gotta be a country/empire/civilization that looks, tastes, and smells exactly like us. And even further, if you read Daniel 7, which is the OT prophecy that underlies the MB vision, its version of MB is described as "devouring the whole earth, treading it down and crushing it." Pretty spot on, I think. If we're really in this territory, then all bets are off.

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I agree--even though I don't know jack.

The backdown by China re Aussie coal was a real eye opener, too. An indicator that things are not going well at all.

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