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IPFS News Link • China

"If Someone Tells You They Predicted This, They're Lying Through Their Teeth"...

• Zero Hedge

By Michael Every of Rabobank

I am a genius lying through his teeth

There is a Bloomberg story today that I absolutely have to start with: 'One of the Decade's Hottest Bond Markets is Imploding in China'. In a nutshell, the Chinese property market, which was nuts, is now being shelled – and most of the losses are being carried by foreign investors.

This development is apparently a major surprise to some. So much so that: "No one could have predicted this. If someone tells you they predicted this, they're a genius or lying through their teeth," says a CIO obviously deeply involved in the failing trade.

I can't wait to tell my wife I am a genius. (My mother, so proud of my "ologies", already knew of course.)