Hedge fund manager Kyle Bass commented on U.S. presidential election in an interview on CNBC.
- Hillary Clinton is "the only thing we’ve got," he said.
- Says the U.S. is headed toward period of stagflation in 2017 as prices climb and economic growth lags; avoiding long-duration bonds
- Says "I’m not bearish China," but "their banking system has reached an inflection point."
- China has to recapitalize their banking system, and "it’s already reached the point where it’s going to have a problem with losses," he said.
- See: Bass Says China’s Banking Losses May Top 400% of Subprime Crisis