Managing Director, Chief Strategist at Silvercrest Asset Management, Adjunct Professor at Columbia SIPA, former biz prof at Tsinghua University in Beijing
That’s not to say that foreign lenders into China don’t face the risk of loss. Just that this risk does not derive, for now, from lack of systemic access to FX, but from the credit risk of the investment itself (which may well have other systemic aspects, besides currency).
My wife: "So what's people's view on Evergrande?" Me: "What's people's view? It's like a satellite crashing to earth."
You can be as pro-2A as you like. But when did it become normal to wave guns around, much less shoot them, in a political ad? Reagan got by without it just fine.
I've said it before: I think we're going to study this period in our history much like we study the Salem Witch Trials.
I'm going to criticize Biden, then I'm going to vote for him, then I'm going to criticize him some more. I can do this because I'm a citizen, not a team cheerleader.
I used to regret leaving the Republican Party after 2016, because it is the logical vehicle for a lot of things I believe in. But I want absolutely nothing to do with the malicious craziness this party has come to embody now.