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China – And the Bloodletting Begins…

China - And the Bloodletting Begins…

Last week at my son's football game, a fellow parent remarked to me that bald heads are cool. I actually thought the guy may be off his rocker a bit, but then I figured that maybe he was trying to be nice as I've got more hair on my big toe than on my shaved head. Then realization struck….

This guy was trying to comfort himself as he was trying unsuccessfully to cover his own balding pate.

Hiding balding can drive men nuts. You can look like Donald Trump, though someone needs to tell him he looks completely ridiculous. With all the money in the world, it's clearly not possible to get a decent looking rug, and then you've got to ask yourself the question, who on earth could be bothered with putting up with all the rigmarole of sticking the thing to your head all the time? And what happens when you dive in a swimming pool or venture out on a windy day?

If rugs aren't your thing you could shoot for a hair transplant and end up with something that looks like a seed tray in a high school science lab experiment. Or you can look like your mad uncle George – don a stripy cardigan and do the comb over.

Let's face it: all options at hiding it are outright terrible. There are therefore only two realistic solutions to the problem. One is to hide indoors and never come out, and the other is to reveal it, get a grip and get on with life.

This brings me to China who have been using all means and measures to hide the true situation in their financial markets.

Blowing through $800 billion in public and private money in an attempt to prop up their ailing stock market has produced a muted response. Based on public statements, media reports and market data, we know that Beijing has just blown through at least 5 trillion yuan. This is an unprecedented amount...