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Melody Wright's avatar

The JP Morgan note sums up the DeepSeek situation nicely imo.

On another note, looking at inventory increases WOW in CA and across the country get ready to see a very interesting Spring.

Thank you as always.

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Bob Bedford's avatar

I love LVG's work too.

It strikes me that the west thinks that China is 2008 US with a debt deflationary spiral, while missing that China might actually be a lot more like the Gilded Age US - incredible debt, but going through a productivity boom of the likes the world had never seen. China is making things cheaper and better than the west. Not just the cheap crap of the 2000s and 2010s - real high valued goods/ equipment etc.

What is shocking to many this last week is that the one moat the US was perceived to have (Tech) is looking very narrow and very shallow.

It seems pretty inevitable that BRICS take over global leadership - so long as the hot war in the middle doesn't take us all out...

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