People have mistaken credit for planning acumen and competence in the Chinese system, similar to the Steve Eisman quote about mistaking leverage for genius; everyone looks smart during credit expansions but less so during contractions.
causalpending
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Logan WrightEvidence Quote
“people have mistaken credit for planning uh acumen and competence uh in the Chinese system. Everyone looks really smart in credit expansions. Everyone looks a bit more on the back foot during credit contractions.”
Created: 8/12/2026, 6:32:13 PM
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