Monday morning links 🔗
Kaveri Seed, Chinese property developers, Mark Mobius's new book
Bond prices of several Chinese property developers have started to recover. Chinese state banks are apparently lending to certain developers again. And mortgage availability has improved. I wonder if it’s a coincidence that this loosening of economic policy happened right after October’s Party Congress.
You can find my discussion about Mark Mobius’s new book “The Inflation Myth” here. My key takeaways from the book are that 1) inflation is a recurring feature in economies with fiat currencies and that 2) government-reported statistics often understate true inflation. Instruments we can use to protect our capital include precious metals, freehold real estate and shares of companies with pricing power.