On China’s Economy & S&P 500’s Record Earnings

China’s stock market has been strong, up 20% since April, as investors appear to be downplaying the potential consequences of the tariff war with the US. But with China’s weak economic underpinnings, we’re not so sure that’s wise. William discusses the reasons Chinese stocks may be overvalued, the governmental decisions that led to China’s economic predicament, and the challenges ahead for Team Xi. … Also: “Stunning” is Joe’s word for the degree by which S&P 500 companies that have reported Q2 results so far (most of them) collectively overshot analysts’ earnings estimates: nearly 9%!