No. of Recommendations: 0
<People think there will be a capex boom, a continued boom in China, stocks are undervalued vs treasuries (rates are low so stocks are better), forward estimates are rosy, etc etc etc. I read that crap every day.>

I really agree with you about one last shakedown in Japan & also China.
China reminds me of us in the 90's only much more extreme & much more exuberant. There is a tremendous buildout occurring and a lot of it is misallocated.

All that excess capacity in China will do as to deflationary pressures.

I saw a few news articles on about signs of deflation already appearing in China and the central bank saying that they could
control it.

Time will tell.
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