As we reported yesterday, following the meeting held between Obama and Yellen last Monday, one reader tried to get some additional information on what was exchanged between the two most important people in the world beyond the cursory White House statement which is reposted below:
There is a saying that the whole is greater than the sum of its part. This may be true everywhere, except in China, where the total is whatever some goalseek machine decides it is.
We first saw China's flagrant manipulation of data when the nation released its "better than expected" trade "data" two weeks ago. As shown in the chart below, when it comes to the biggest contributor, imports from Hong Kong, it was beyond simply grotesque and had entered the sublimely ridiculous.
Authored by Mark St.Cyr,
As BofA's Michael Harnett reminds us, on Thursday, April 28th, the US equity "bull market" becomes second longest ever. Next Thursday the current bull market will be 2607 days old, exceeding the bull market of June 1949 to August 1956 by one day; the longest bull market ever was October 1990 to March 2000 (3452 days). The following chart shows the evolution of the three Great Bull Markets.
Here are three point from Hartnett for those curious what may come next.
The Path from No. 2 to No. 1
Fake goods, fake economic growth, fake trade, fake cities, fake human rights, fake country. Real debt.