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The Best Comment On China's Weekend Economic "Data"
The award goes to Bloomberg's Richard Breslow, author of "Trader's Notes" with the following pearl on China's weekend "data":
Chinese numbers came out; I was kind of amused that when they’re pretty much on expectations, nobody writes that the books are cooked and that you have to discount the exports, etc.; they came in right on expectations, and everyone high fives the science of economic forecasting. We’ve either got to seasonally adjust for book cooking or assume, like all numbers, they are an educated guess.
That about covers it, although considering the amount of book cookery going on in the US and especially the Bureau of Labor Statistics, we wonder why nobody has yet said the exact same thing about pristine US "data"?
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I guess the U.S data isn't as amusing.
Are you implying they aren't exactly telling us the truth?
If I lived in a country that would incarcerate me in a liver harvesting prison for 10 years for not publishing what they wanted - I'd write any frigging thing the Chinese government wanted printed..
If I lived in a country that would pay me a decent salary, promise me a pension and give me the chance to become a banker, I'd write any frigging thing the U.S. government wanted printed... --every BLS employee
There are 2 types of governments in the world.
One who can print the reserve currency and the other, who cannot.
nop.
There is 1 main type of government in the world.
they all run after the others money. subtilities comes from methods but overall is the same everywhere. if you cannot print you borrow, pretty much same.
I guess that with China having $5 Trillion + of reserves, not including its Gold reserves, it might, perhaps, be a better bet than The US which has $18 Trillion in Treasury debt (And counting to over $ 20 Trillion by the time Obumboy finally fucks off), a Fed balance sheet of $ 4.5 Trillion and "Off-Balance sheet" liabilities of $ 80-100 Trillion, it might seem, perhaps overall, a better credit risk than The US? Especially with a currency implicitly backed by Gold. Just a guess, of course, ...
We ARE China on numerous levels.
Check out this Corbett report research.
It's always the same players.
It coud be Bloomberg or Richard Breslow is long China somehow. Or it could be a part of a whip saw campaign to swing markets back and forth and catch people in short coverings etc. Seems like a lot of whip sawng action these last many years. Case in point, Alan G's recent poo poo indicating weakness followed closely by a market ramp/short covering.
If a Private Corporation controlled the taxes collected and gambled and lost , knowing full well that my offspring would never be able to pay back the debt that they use to enslave the World let alone America......My eyes see that I am looking for an Honest System. One that does not change or Manipulate my savings . End The FED.
More like END GOV'T-period! Start over with all newbies in all Gov't agencies would be a good start
I think it's more we arn't telling ourselves the truth.
When no one can make their numbers, just fake the numbers.
What's the worst that can happen? They've been doing it for a loooong time.
Confucius say:
"Government says economic growth is so and so.
Move along, Citizen."
Confucius say :
"He who walks around with hands in pocket feels cocky all day.."
.. Very sage ..
You ever wonder if they even keep the real data in a separate set of books somewhere? Or maybe they just 1984 it. Wiped from the face of the Earth.
What amazes me about China's cooking the books is then afterwards they add a little soy sauce then eat the books!
Sadly, they get hungry again very soon after.
The real books are kept in the back of a Chinese Laundry.
It's like that Italian Deli in Goodfellas, but it's a Chinese Laundry instead.
we wonder why nobody has yet said the exact same thing about pristine US "data"?
Maybe because Obama can legally drone you? Or you don't bite the hand that feeds you? Or no media will carry your comments about falsified US data?
Truth is treason in a fascist, police state.
They will be termed conspiracy theories to begin with.
Fuck China and fuck analysts.
China said they are going to amass 8500 tons - is just a political shot at America.
A double one because both heads of government <know> that the gold in Fort Knox is Tungsten the real reserves are about 430 tons in New York.
If you went back on the gold standard - gold would have to be revalued at around $1.2 million / ounce.
Anyone holding anything valued in American Dollars is about to be shocked when it becomes worthless.
ISIS, Ebola, Russia, China and North Korea.
The coming super-recession will send gold to $16'000
Insiders know the XL Gold Cycle has been triggered.
I see 5K$ Au and maybe 100$Ag as realistic at the end of the next 18-24 mos.
http://www.youtube.com/watch?v=tLo7xFkhJ3A
the date is fancy ( before 2015 ) , but many are according that correction on gold price will be around 5k/ounce.
the guy says it happen soon after china says gold stock qty.
wondering if that can change something, not sure.
After a year in Indai, where I did a lot of research and local interviews, I diversified into two funds.
The Rupee will Rise Again!
If an engineer treated numbers as an "educted guess", he faces going to jail for negligence, assualt or murder.
Beat me to it!
That's why almost all crooks are in "finance," not engineering.
I follow your thinking. However no-one has mentioned a figure of 1.2 million per ounce.
Where have you got that from??
Everybody fudges the numbers.
?
Only radical conspiracy theorists distrust government figures.
"...like all numbers, they are an educated guess."
Numbers ARE NOT educated guesses! They're either precise calculations based on sound math, or they are fraudulent and the publisher should be liable for criminal prosecution.
You having lulz bro?
Too much caffine this early ain't good for you.
We are not getting the desired number ...... let's change the method of calculation.
Obvious one in the UK .... let's change from RPI to CPI inflation figures .... we get a lower number.
Complex derivatives a mechanism to gve the correct profit figures at banks.
Our 3 zillion derivative exposure gives a nice profit of £20 billion, bonus targets met.
Its a ponzi world. The end of "mark to market" and the beginning of QE sealed it. The entire world is one big ponzi, nothing else needs to be said.
Economists throw chicken bones onto wholecloth until they get the pattern they like. That's why they all look constipated.
"... nobody writes that the books are cooked..."
How is that different from the US Government?
CPI, GDP, Employment Statistics and the "strength" of the US Dollar are all Government lies.
90% of the US population is in denial.
You can't be in denial if you pay zero attention to what is going on around you.
That's your 99%.
Chinese economic data make good soup.
Is there any government data that is not manipulated? I think not. And I do not mean this in the context of China.
I'm sure there's someone in China laughing at our data.