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The interesting thing about the China story, getting back to the macro and micro, and as dire as I think the macro story is - due to bad credit and credit extension that makes Greece and Spain and the U.S. look like child's play - when you get to the micro of individual companies, they look even worse. ↗
The Macau casinos have a wonderful business, it's taking in money from Chinese businessmen elsewhere who send it through junky companies to casinos to gamble. The growth continues and they have basically western managers and western accounting, so we trust the numbers a little bit more. ↗
It's only Western civilization that, God forbid, you talk about dying, when it's the only thing we know for certain, right? Everyone's going to die, so what's the big problem? 'Oh, God. Don't talk about it. Don't think about it.' I mean, I'm one of them. I'm not a big fan of talking about dying. ↗
