Jim Chanos’ presentation at the Virginia Value Investing Conference:
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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Overall household indebtedness is up from $7 trillion to almost $10 trillion since 2000. On this sum, we estimate, the American consumer has an annual interest bill of more than $500 billion; a sum, by the way, that vastly exceeds his current income growth." —Kurt Richebacher
"The Greek offer is not sufficient and they have to go away to come up with a revised plan," said a spokesman for the German Finance Ministry. The Greeks must first have a plan that satisfies the Germans which this comment states they clearly don't yet and then the Greek Parliament will vote on it this weekend. This said, whatever package gets voted on in Greece is basically an up or down vote on euro membership so we are entering another uncertain weekend for global markets. A failed vote will likely lead to a hard default which may be what...
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November 11th, 2009 at 1:21 pm
I’ve learned that debt is a poor substitute for what it buys…
…H. Jackson Brown, Jr.
November 11th, 2009 at 1:25 pm
I’ve learned when a man with money meets a man with experience, the man with experience ends up with the money and the man with money ends up with the experience…
…Ditto.
November 11th, 2009 at 1:33 pm
I’ve learned that talking about our problems doesn’t always help…
…Same source.