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关于美联储货币政策和市场泡沫的讨论。每次美国经济衰退、市场泡沫破灭，都是美联储加息加出来的。无一例外。
152
中国房地产三大未解之谜：
1）房价这么高，为什么还在买？
2）住房拥有率这么高，谁还在买？
3）房价、住房拥有率这么高，为什么泡沫还不破灭？
3 unsolved mysteries of Chinese Property:
1) price so high why still buying?
2) ownership so high who still buying?
3) 1&2 but no bubble burst?
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鲁迅：“今春的两种感想” —《集外集拾遗》1932
“When in China, … if you want to talk about the Chinese society, about oppressor & the oppressed — forget it. But if your topic ventures out of China, to Paris & London, to the moon & beyond, then anything goes.”
— Lu Xun, 1932
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China air cargo volume Y/Y cliff diving. The trade war effect has arrived.
Economist of the Year - Asian Private Banker; FT Book of 2020; No.1 Strategist/Economist - AsiaMoney. “The man who called China’s boom & bust” - Bloomberg