I published a report on the GENIUS ACT and its effects on $ETH and $BTC yesterday. Many thought I only turned bullish on crypto yesterday. Indeed, I have been on crypto for more than a decade.

I published a report on the GENIUS ACT and its effects on $ETH and $BTC yesterday. Many thought I only turned bullish on crypto yesterday. Indeed, I have been on crypto more than a decade.

HIBOR crashing back to zero. HK is flush with cash.

HIBOR crashing back to zero. HK is flush with money.

By popular demand, my fans meeting in Beijing over the weekend. It’s a full house, and the assets we discussed during the meeting are surging. It’s a rewarding experience, both for myself and my fans.

Chinese robot at work — making Chinese crepe. This is a popular breakfast food at the curbside from street hawkers in northern China. Pretty soon, we will all be getting it from robots. (P.S. why is my location showing as North Korea?)

The Chinese version of Ray Dalio’s “How Countries Go Broke” is out now, together with my written comments of the book. Ray also signed my copy personally. Gracious. Thanks @RayDalio

The Chinese version of Ray Dalio’s “How Countries Go Broke” is out now, together with my written comments of the book. Ray also signed my copy personally. Gracious.

The Labubu Craze .. a doll costs less than 1000 yuan painted on a Li Auto Mega with a price tag of well over one-million RMB. But Labubu’s price is starting to crash in the second-hand market, as knockoffs are showing up and scalpers need to de-stock fast.

China is to give RMB3600(~USD500) as an incentive for families to have children. However, since China lift the “one-child” policy in 2016, new births have actually halved over the past decade. If the reason of not having kids is financial, then 500 dollars as a birth incentive are way too little. To raise a kid to 18, some estimate the total cost would amount to a few million RMB. If the reason of not having kids is non- financial, then whether to give 500 bucks or not won’t make a difference. As such, this incentive will likely fail, and new births will likely continue to fall, the population will likely continue to shrink. Back then, the Chinese reared kids against old age. It’s like an investment for the future. Now, the Chinese are not having kids cos it’s too expensive. Then it’s like saving for the future. Such behavior is consistent with the prevalent risk aversion in the economy now — everyone is saving rather than investing. There is no easy solution to resolve this social challenge. But something is better than nothing. And better late than never. While 500 bucks won’t change much, it’s a start.