Kyle Bass Is In It For The Money
Bass runs a pseudo-humanitarian organization called CAD, which stand for the Coalition for Affordable Drugs. The ostensible purpose CAD deigns to serve is the reduction of drug prices for those who require them for survival. CAD has been successful in lowering drug costs numerous times; but this isn’t their whole purpose. When a big-ticket pharmaceutical loses the ability to sell drugs at a certain price, then the revenue they would have had accordingly drops, and so does the value of their stock. When this stock-drop occurs, Bass short-sells his holdings with them and makes millions. Meanwhile, the companies can’t expend capital toward research and development, meaning prospective cures just a few months away may be suspended for years. But Bass doesn’t care; he makes millions through this operation. Congress has waxed bipartisan in their efforts to curtail Bass’ shenanigans, but he’s not technically doing anything illegal, so they’ve been stymied.
Today, Bass is pointing to China and making noises about a coming recession. According to Bass, the recession won’t be huge in America as a result of China’s losses, but a recession by the end of 2016 is to be expected. The thing is, Bass is likely right; but the reasons behind his rightness are quite questionable. He’s also lent his endorsement to Hillary Clinton for this year’s election. Clinton has a globalist ideal behind her politicking, and Bass’ relation to socialist despot of Argentina Cristina Fernandez de Kirchner indicates he does as well, predicating his endorsement. Bass is an Argentine, and though de Kirchner has defaulted their home country no less than twice in only thirteen years’ time, he is always quick to support anything the woman decides to do. Could it be that Kyle Bass has an economic ideal which involves collapsing international economic powers into a single global body?
It’s hard to tell with Bass, though he does run a hedge fund. Hedge funds are often called “vulture” funds, as their prime purpose seems to be reaping the final vestiges of success from declining economic powerhouses. Considering this in regard to Bass’ remarks on China, all that is sure is that he sees an angle.