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China Reports Mind-Boggling Plunge In Retail Sales, Industrial Output, Fixed Investment
Everyone knew it would be bad.
But I'm not sure anyone expected it to be as bad as it turned out to be.
China reported the industrial output/ fixed asset investment/ retail sales trio on Monday. Expectations were that the headline prints on the closely-watched activity data would show a simultaneous contraction for the first time in history.
Note that these figures are combined for January-February in order to smooth out seasonal effects around the Lunar New Year holiday. Obviously, this ye
So when will China float? That should send the currency into the abyss. They might as well, given that any pretense China is a stable place for investment has now been shattered. Trump is likely incensed that China (directly or indirectly) shattered his precious stock market. and you can fully expect him to double down on tariffs or other punitive measures.
And I don’t think Trump will have a problem winning against Biden, even if the economy is in a tailspin. My god, Biden’s ‘behavior’ shows he might be more dangerous than Trump! Even a sock puppet could beat Biden.
Actually trump will have a problem. His cadre is a circus act. People want experience not clowns. They want a team of experts not family and sycophants. People will enjoy providing the country a woman vice if the pick is a worthy one. It is too easy to make the case that the trade war, isolationism, and inept response to the virus, all factored into the market crash. Did I mention the federal budget deficit balloon, and the federal debt sky rocket.
“People want experience not clowns. ”
Biden has nothing to offer. At least with Trump I could expect lower taxes. Bernies folks wont vote for Biden., so Trump wins by default.
Where is China’s creativity in massaging its numbers when you need it?
Scary, but maybe these ARE the massaged numbers…?
I don’t doubt they are. They seem pretty rosy all things considered.
I have warned in January that China’s data for Q1 will be catastrophic.
But China is no longer a sole problem. Let’s see what happens to the US data for Q2.
Maybe those are the rigged numbers !