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3 Charts The China Bulls Do Not Want You To See
As trade sanctions rise, ghost cities crumble, shadow banking surges, and the PBOC loses control of the most centrally-planned economy in the world amid their own version of 'peak debt', it appears yet another pillar of the China-is-the-world's-growth-engine meme is crumbling. As Manpower recently reported, the belief in a mass 'urbanization' dream is absolutely not occurring. In fact, based on the following charts of various industry employment outlook levels, things are going the other way. How does 'ruralization' play into the 'if we build it' thesis?
The overall picture is not so pretty... as expectations of hiring are as low as they were in 2009...
and dramatically weaker in FIRE industries...
and Mining and Construction is being crushed...
(h/t Sean Corrigan of Diapason Commodities)
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If China isn't the engine of growth and the US and Europe aren't either?? hmmm how am I going to pay the bills? http://tinyurl.com/lq63ahd
Much like Survivor, I think we're watching the ultimate contest among nations to see who can out play, out lie, and out last all others. Not sure what the prize is going to be though.
Sigh...
"Not sure what the prize is going to be though."
A large smoking hole in the ground.
Stupid people play stupid games and win stupid prizes.
how about a 4th chart - the Doctor is speaking loud - down hard again today
http://stockcharts.com/h-sc/ui?s=$COPPER&p=D&yr=1&mn=0&dy=0&id=p27850274975
THE smoke and mirrors of smoke and mirrors economies.
A butterfly hits the windshield in China.....South American resource companies feel the impact.
i work in the met coal sector in Oz and believe me first hand the downturn is underway.Contractors are always the first to go ,now we are also seeing staff retrenchments as well and this is from an operation that produces premium met coal @ 80 usd/tonnne.
Jim Chanos to have the last laugh here.
Yup, I got the same anacdotal impressions and indicators, Oz is most likely in recession, or at least several states are. I don't trust laggy GDP figures at all, because you only have to drive through regional towns and cities to see their economy has visibly turned-down, and its getting worse. What we have now is a bunch of political denial, due to a pending federal election, as to how bad things have become. By the time the election BS is out of the way the economy will be sick-as. (maybe Gillard will try some direct-payment stimulus to bank accts to buy some votes in the interim ...??? ... oh, that's right ... they already blew their mandated debt-limit ...)
But Jim Chanos did not bank on the USA and Euroland going in the same direction as well.
Certainly looks like nothin a good dose of free monee can't fix!
Yup!
Those late 2010 and early 2011 chart peaks were the direct result of mid 2009 and 2010 money injections. Let's all count down to the next round of coordinated global money printing.
<If you liked the last free fiat hangover the next free fiat hangover is gonna be a doozy.>
The global banking sector owes it to the people to keep the charade going as long as possible. It's not fair to give em iPads and yank em in a few months - they need at least a few years to get addicted to it.
Look at the FIRE sector 'now' plot though, it's already even lower (and long-term trending deeper) than it was in March 2009!
It must be getting worse. Two "all-you-can-eat" Chinese buffets in my town just went out of business.
The town I live in is building a crapload of speculative new storefront buildings while the existing businesses are closing up. Lots of recently vacated retail storefront is available but they keep building new. Crazy world
Yeah, this crap hole tried to pass a tax increase to move the schools to a more rural location so they could use the existing property for "upscale retail development" - right across the street from a strip mall with like 50% occupancy. Morons, meet em everywhere.
its probably cause their food sucks and the all u can eat is a bad business model......we have a chinese restaurant that is packed non-stop.....food great....
All you can eat on the mediterranean is profitable.
All you can eat in USA is idiotic. You go out business
hmm free ifi and all you can eat i think ive found my new lounge room
look at aud/usd to get a better picture of china's crash.
Well seeing what the air looked like in Beijing, who the hell would want to move there? Or any of the mega manufacturing cities that pump waste into the local rivers.
pods
Love those floating fucking pigs man and god knows what else.
Know where your food comes from.
Don't you just love globalization now? ;)
POMO Tuesday!
FED to the rescue!
Nothing can stop the central bankers, not even reality itself!
you caught that hundred point POMO reversal too...
Those are some sorry ass charts.
I was thinking they looked like they were pulled right out of the funny pages.
We have always been at war with...
If China was the USSA, I'd say "bullish"...
Weren't we down 19 handles at the open or was that a dream?
China has done a fine job to strengthen US corps, cut US unions off at the knees, drive profits for US companies, etc.
China has been a partner of the US since 1970.
Alas, China remains a communist country - the US likes this - and we all know how the communist story ends.
Look forward to the China / Russia war - when they battle over Siberia for resources.
Healthy for the long run
you cant have it both ways...china data is apparently corrupt, so why are the above chart data accurate?
I still will take China politicians over the USA´s...China´s think long term and will do it...USA´s only think the next election and do nothing...China is buying land..commodities and things that will be valueable in the long term....we do not do anything....we worry about the new IPHONE......or New TV show...
Haven't you heard? All of those jobs are coming back to the US.
Geeez, get with the lies...errr...I mean, get with the program.
Diapason is bearish on China but its owner, Jim Rogers, keeps pumping China on TV.
I don't believe Rogers own that. It is a Dublin lists ETP that merely tries to track Rogers' Commodity Index.
And, I think you need a hundred grand minimum investment to get in.
If you are referring to another entity, please provide a link.
Thanks
Go ahead, bash China all you want, doesn't matter. If SCO moves forward with gold-backed trade currency, USD is dead (America too).
A mass of sick, pollution afflicted middle age people returning to the villages to try and restore their health.
I'd imagine that's quite true. People live in unbelievably meager conditions, comparitively rural life can't be much worse. I'd imagine another factor is that a lot of migrant workers are doing jobs which would be skimming some of the frothy cash that flows through 'entertainment and services' as a broad definition, because I'm just guessing there's less of it sloshing about.
Not only that, people ain't dumb. They realise that they only live and work to make there family life better. Why live a hundred miles away and have not much of a life in the city?
They're heading back b/c the construction jobs are not there any more.
@thestarl. Quite right. First indication I got that this was a serious downturn in oz was when a source in rental vehicles (Thrifty) told me that their mining lease fleet was starting to back up as contracts were not renewed. That was well over a year ago but the city slickers seem to still believe everything is peachy.
Those same suckers are going to get creamed by huge mortgages when the reality of a contracting mining sector bites.