KWN – 15 November 2012
In this week’s interview Egon von Greyerz discusses the feeble situation in Japan and China, strikes and riots in Europe and an increasingly violent Middle East.
“Eric, I was talking to you last week about how Japan was a disaster waiting to happen. I was pleased to see John Embry agreeing with me on Japan because John is one of the wisest men I know. So Japan is in a mess, but you don’t have to go far to look at another problem which is China.
“China has been dealing with over-investment and easy credit for years, and it’s a bubble. There is a bubble in the economy in China, there’s a credit bubble, there’s a property bubble. China is the only economy in the world that is totally built on credit.
Most emerging economies are built on investment out of profit….
Click here to read full interview on KWN