Posted on 09/07/2015 7:50:54 AM PDT by RoosterRedux
The world is worried about China's economy. Mark Schwartz, Goldman Sachs' man in Beijing, not so much.
Yes, China's stock market has tumbled 40% since June. And yes, the country has hit a rough patch. "A few things have gone wrong this summer," said Schwartz.
But he also thinks the doomsday scenarios are way off the mark.
"I think the market reaction globally is overdone," said Schwartz, who is chairman of Goldman Sachs in Asia-Pacific. "I think China is going through a very normal transition, from a state-controlled, state-dominated system, to a more market-oriented system."
(Excerpt) Read more at money.cnn.com ...
Why worry about China when there is so much here to worry about?
Because what is going on in China has clobbered the U.S. stock markets.
Goldman Sachs is the lead bank in the New York banking cartel that controls investment capital in the United States. It is a designated “too big to fail” bank that was bailed out in 2008 and knows the US government will bail it out again. Therefore it is reasonable a senior Goldman executive doesn’t worry about China. If Goldman’s financial speculation in the Asian region fails spectacularly, Goldman will feign surprise, the taxpayers will cover the losses, and a year later the Goldman bankers will be collecting millions in bonuses.
Goldman has a reputation for playing both sides of a transaction. In the past the firm has been caught making statements to lure its customers into an investment about to go south while at the same time cashing out the firm’s positions or the positions of wealthy insiders. Somehow the Justice Department never finds reason to prosecute the bank or its executives. Witness former Goldman Chairman, former New Jersey governor, and former US Senator Jon Corizine who walks free without a care in the world after orchestrating the downfall of MF Global and the fleecing of its customers.
For good investment advice I’d pay more attention to the palm reader at the county fair than any executive at Goldman Sachs.
So mush they Warren Buffet a sweetheart deal to bail them out when he loaned the 5 Billion in cash fast.
That said, I don't trust Goldman one iota. Many years ago, when I was on Wall St., I used to compete head to head with Goldman. They are now and always have been a slimy outfit.
They are poachers.
Somewhat dated, but take a look at the YouTube video of Alessio Rastani in an interview with BBC.
He has an interesting take on GS.
Wasn't Cruz directly linked to Goldman Sachs and Bush political campaigns?
Cruz’s wife works for Goldman.
That’s what I thought. I think at one time Cruz worked for the Bush dynasty too.
China’s economy is largely smoke and mirrors. Corruption, fake GDP, cronyism.
Chinas ghost cities
https://www.youtube.com/watch?v=ei0FpwI1dqg
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