Why worry about China when there is so much here to worry about?
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.
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.
China’s economy is largely smoke and mirrors. Corruption, fake GDP, cronyism.