Someone at the AFR reads MB:
One of the world’s leading hedge fund managers says that economies dependent on China for income, including Australia, are headed for recession and central banks will not be able to able to come to the rescue because they have exhausted the arsenal of policy weapons.
Crispin Odey…is short stocks Genworth Mortgage Insurance Australia and Fortescue Metals Group, indicating that he expects the share prices to fall, and he believes the Australian dollar is headed for further losses. He said Australia’s banks could have a “bad time ahead of them”.
