Via deserved and necessary hat tip to Edward Harrison at Credit Writedowns and to reader MR for sending the link (gracias che) check out this video of Hugh Hendry surveying rows upon rows of empty Chinese high-rised buildings and more being constructed. Amazing, compulsive viewing and 100% necessary knowledge for investors.
Harrison asks in his post “Who is going to pay for all this stuff?”. Well that’s easy enough to answer; if your salary comes in US dollars have a look in the mirror.