When even that bastion of statist groputhink and legacy conventional wisdom accuses China of fabricating its most important economic number, then surely some violently volatile event is in the immediate future as China's goalseeked cognitive dissonance is forced to reallign with reality in an event which even the bank that does god's work on earth implies is now overdue.
From Goldman's David Kostin:
Is "The Bear" back from the dead...
Source: Townhall.com
You decide...
As the business cycle beats the centrally-planned committee's manipulation once again.
Yesterday we felt like a brief moment of gloating was deserved, when we noted that, based on the WSJ's reporting, the somber mood among Davos "prominent investors" and billionaires was "irritated, bordering on affronted, with what they say has been central-bank intervention that has gone on too long.... from this anecdotal sampling, at least, that has created growing distortions in nearly all asset prices—from stocks to bonds to real estate."
On Friday, we noted that at least some local businesses in Texas are sympathetic to the pitiable plight of the state’s beleaguered oil patch workers.
Houston-based Gramercy Cleaners on Richmond avenue, we observed, is demonstrating their compassion for the imploding energy sector by offering service discounts.
Early last month, just as Puerto Rico Governor Alejandro García Padilla traveled to Capitol Hill in an ill-fated effort to convince lawmakers that the island’s various bankrupt public entities should be allowed to utilize US bankruptcy laws, PREPA (the commonwealth’s heavily indebted power utility) was busy cementing the largest restructuring in muni market history.