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China Lands Hard: Rail Volume Plunges, PMI Tumbles Into Contraction, Employment Worst Since Lehman
Chinese rail freight collapses 9.1% YoY; China Manufacturing PMI tumbled back to a contractionary 49.2 - lowest in 11 months; and the Employment sub-index plunged to its lowest since Lehman ... yeah but apart from that, everything is awesome. And for those excited about just how disastrous Chinese data is (and thus how huge the next stimulus unleashing will be), think again - China now sees exactly where the last trillion dollar QE went... a de minimus and unsustained blip in the economy and liquidity-fueled rampage in stocks (which is not what a corruption-crackdown politburo wants to encourage).
Single Whammy: CHINA JAN.-FEB. RAILWAY CARGO VOLUME FALLS 9.1% Y/Y
Double Whammy: China Manufacturing PMI prints 49.2 - lowest in 11 months
Everything is un-awesome...
Triple Whammy: Employment collapses...
* * *
Copper prices have continued to collapse and retraced the entire US day session jerk higher...
And Shanghai Composite tried to rally but failed...
* * *
Of course, HSBC and Markit are screaming for moar QE...
“The HSBC Flash China Manufacturing PMI signalled a slight deterioration in the health of China’s manufacturing sector in March. A renewed fall in total new business contributed to a weaker expansion of output, while companies continued to trim their workforce numbers. Meanwhile, manufacturing companies continued to benefit from falling input costs, stemming from the recent global oil price decline. However, relatively muted client demand has led firms to pass on savings in a bid to boost new work, and cut their selling prices at a similarly sharp rate.”
And sure enough...
- *JPMORGAN SEES CHINA RRR CUT TO BE AS EARLY AS APRIL
Charts: Bloomberg
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Horrey Fuk
And the required "Sum Ting Wong"
Time for war. A trillion yuan stimulus to build a thousand nuclear missles.
Excuse me, but if you wish to avoid copyright infringement, the proper usage is:
Worst Since Lehman®©™
I'm sorry, but we prefer "Lehperson".
This is the worst use of "Worst since Lehman", since Lehman.
Yeah,
They'll be a MUCH better choice as "World Reserve Currency".
Lehman who?
Funny how they have the same decreasing ball bounce from progressive QE's that the U.S., Europe, and Japan have.
Don't worry scrot! The official Chinese figures will make everything OK again. If you put all of their graphs together in a certain way, you will see the Unicorn of Prosperity (or you will be taken to re-education camp).
The firing squad fixes all problems.
Lethal Injection with Organ Harvesting may yield revenue.
Firing Squads are a waste.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://goo.gl/ezLA00
hey, one_hundred -
go sell this in china, it sounds like there might be a better market there.
What? You are stealing my idea of lethally injecting people and selling their organs online?
You must be from China
chinese don't have trouble pronouncing 'R's, retard
Don't you mean Letard?
I find your comment lisible.
Das Lacist!
You can make a Chinese person have a seizure by asking him to pronounce "brake fluid". The best they can do is "bway foo".
And skip the down votes. I live in China and volunteer teach English. R' and L's are a big hurdle.
The 'L' is not a problem 'Mr Teach English in China' but the the 'R" is a cross between the English 'R' and the "y" glottal.
I don't know where (if) you are teaching English in China but get the wax out of your ears.
I teach the proper English pronunciation, which does not have an exact match in Chinese. That's why they have a problem with it. In other words, what I said.
BTW, show them a Rolex or a picture of one and ask what it is. they will say "Lorex".
In other words, what I said.
We tongue-twisted some folks.
Poor ritter me.
No impact...it's got to be much BIGGER than this
Nope.
There's a reason China dripped this partial 411 as to their deteriorating economy.
They intentionally released a partial truth of their actually real degradation for a purposeful reason (things are far worse than what they're revealing- FAR WORSE - but still).
This is a big development.
We're now in the shit in terms of the global economy in a way we have not been since 2008.
China's crashing exports can be felt & seen in a very real, very profound way.
This is a big, big development.
TIS- If you tell anyone I'm agreeing with you, I'll deny it. But I'm agreeing with you.
It is not small. I has not just been happening in the last month or two.
Hey, China's ghost cities are bullish!
Reducing Chinese Oil imports...shrinkage.
Hory Shit !!
Just as Global Oil Glut Deepens, China Cuts Oil Importshttp://wolfstreet.com/2015/03/20/global-oil-glut-deepens-china-to-cut-oi...
Greece wants to be commie anyway, so, let's move them to those ghost cities in China.
Problem solved.
I love all this theater. Fools looking for reasons.
liars lie and the msm repeats til it is the new belief. eventually the real numbers are unavoidable. but it buys time to distort the reality of their lies. in the mean time
we get to speculate on the truth...
Numbers...China...lol
Ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha!
I know right! Ha, ha, ha, ha, ha, ha.
Chinese..... Ha, ha, ha, ha, ha, ha.
Numbers..... He, he, he.
Stop. STOP! Yur killin me here!
Folks like to pretend China's got everything planned out. A new gold currency, high single-digit growth, $4 trillion of currency reserves, etc. After all, isn't China just one big miracle for the world to emulate?! But China's got plenty of problems of its own to deal with and may well have to spend down a lot of those reserves to tamp this down.
Exactomundo. China is in world-o-shit from a cosmic perspective. Per Mao's founding, transiting Pluto just now in natal #2 (portable wealth), derived #5 (speculation), Saturn later in 2015 goes into natal #1 (self-confidence), derived #4 (real estate). Things will get very messy.
Remember folks... in the depression, america crashed with europe - even though America was the creditor to europe.who emerged global hegemon after WW2? The creditor - America
China is in a world of hurt but if there's anything left after the next war, china is likely to be the stronger
we all have missiles of many kinds, grasshopper.
China has plenty of economic ammo to roil the markets for the next 10 years.
Expect sparks...then fireworks.
If they could just release some really really bad numbers that would collapse the entire fiat structure.
Who runs bartertown ?
Who makes join the China Infrastrucutre Fund.
Who blinks ?
He will not debate.
He just does not get it.
I write the responses for the rest of you...who actually have a brain.
Yeah. If bartertown collapses then we are all fucked.
As the USA is a debtor nation we cannot handle a Deflationary Depression. Our Government becomes insolvent and bankrupt if we decide to save the US Dollar.
China will go into a Deflationary Depression as they hold the credit and we will print ourselves into a Hyperinflationary hell in order to pay the US Government's Financial Obligatrions, destroying the US Dollar in the process.
That means that EVERY Nation's Central Bank that has Dollars in reserve is fucked. It will be a cascading Daisy Chain of insolvencies.
The consequences of a Global Reserve Currency undergoing a Hyperinflationary inferno has not yet been experienced.
We are about to experience that pain.
We will live in interesting times.
And just where will they liquidate their $1 Trillion in US Government Bonds, Amerikan Patriot?
What will that do to the US Bond Market?
Can you think past your nose?...For once?
what you suggest is fuck yourself over by fucking usa and in turn fuck thyself.
ever read what you write? china is boxed in a corner too. their real problems are clean air and water...
They are making progress. Do you remember how bad the rivers and air were in the Fifties and Sixties in America? Back when we had the industry to make the dirt?
I didn't think so.
So many critics have only a 10 year memory.
Then explain why they opted for regressive and outdated technologies in the 1990s?
New Game...I am not suggesting anything like that...at all.
In fact I know that China is in between a rock and a hard place.
What I am writing is that if China falls then so does the USA.
That is just the fact.
I am not cheerleading that. (Amerikan Patriot is cheerleading the collapse of China,on the otherhand.)
US rail stocks were down today, too.
AND Baltic dry is in the gutter. Wait, I...I think I see a pattern here.
http://www.bloomberg.com/quote/BDIY:IND
https://www.aar.org/data-center/rail-traffic-data
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=A103600001&f=M
http://www.iata.org/whatwedo/Documents/economics/freight-analysis-jan-20...
http://www.trucking.org/article.aspx?uid=07500ca8-5b5f-4e20-b4ef-12ef7f7...
Nice! Uber Vandal, thx for posting these links.
I have said it b4, the BD index lost its predictive
value quite some time ago!
damn, hewhocarriedthesun, careful bandying that avatar around... those nipples could poke a man's eyes out
AND Baltic dry is in the gutter.
This recoveryTM....is gonna kill us.
Data regarding interstate shipping via trucks & railway within the U.S. is an entirely different animal than international cargo carrier exports from export-intensive nations such as China, Korea, Germany, Japan, etc., using monster cargo shipping on the high seas.
You're comparing Washington state apples and Mandarin oranges.
but it's still the worst since Lehman, right?
China needs consultations with its best friend and economic wizard to the north, Vladimir.
Vladimir, that silly goose, he'll show China how to price fix some stuff (like vodka).
Well, perhaps yes:-) The Russian economy rebounds now. Surprise? Their economy is obviously much healthier and in a much better shape than the West expected. Investors are now flocking to Russia. Surprise again? I think the whole world will be very surprised, what Russia can do. An interesting excerpt for all those who are still biased towards Russia: "The Western view of Russia is that Russia somehow lost its bearings and became diverted from its supposedly natural course, which would have ended with it becoming a liberal democracy in alignment with the West, by adopting instead a non-Western course, which led it away from the West. By definition that means that Russia today cannot be a democracy since, according to Western ideology, "democracies" automatically align with the West and do not distance themselves from it. Since the West is ideologically incapable of accepting it had any part in this outcome, or that a country like Russia might choose a non-Western alignment of its own choice, it is obliged to look for a villain upon whom to put all the blame. In Russia’s case it is the country’s longstanding leader: Vladimir Putin. Since the West cannot accept that a country that chooses a non-Western path can be a democracy, it also cannot accept that such a country can also be successful and happy. Instead the West assumes the "Russian autocracy" is corrupt and selfish, lacks political legitimacy, enjoys fragile popular support, and has an economy that is badly run, is inefficient and one-dimensional and depends entirely on oil and gas revenues. The West imposed sanctions on Russia assuming the country is economically weak. It supposed that the sanctions would devastate the economy and that this would in turn trigger a popular revolt against Putin that would either cause his overthrow or which would force him to change his Ukrainian policy. The West assumes this revolt will be led by Russia’s business leaders, who in the West are always called "oligarchs" (though there is no evidence any of them actually possess any political power in Russia and are in any true sense "oligarchs"). These business leaders or "oligarchs" are supposed to carry out their coup in alliance with pro-Western liberal politicians within the government and with certain pro-Western political activists outside the government who previously headed the Moscow protests of 2011 and 2012. The latter are in reality marginal figures but mainstream Western opinion has never accepted this and continues to believe them to be far more important and influential than they really are.
In the event, what has actually happened in Russia since the sanctions were imposed is the exact opposite of what the West expected. Putin has not changed his Ukrainian policy. Nor has he come under any pressure in Russia to do so. Far from the sanctions causing the elite to fracture and to plot a coup against him the elite has instead consolidated around him. Not a single member of the government or of the business community has broken ranks to call publicly for a change of policy or of government. Putin’s popular support meanwhile has hit unprecedented levels. Most alarming and baffling of all, instead of collapsing under the weight of sanctions and of the oil price fall as the West expected, Russia’s economy is rebounding."
"Instead the West assumes the "Russian autocracy" is corrupt and selfish, lacks political legitimacy, enjoys fragile popular support, and has an economy that is badly run, is inefficient and one-dimensional and depends entirely on oil and gas revenues. "
Well, every bit of that is true. Economy is contracting, oligarchs have more power, no press freedom, Puutie revealed to be an expansion minded totalitarian.
What does the job of Paid Puutie Puppy pay?
Well, judging by your last sentence, you are just a troll, because trolls usually talk like little children:-) Cute, really. Perhaps because they have no real arguments and cannot talk like adults. Can you also say some nursery rhymes? I bet you would be good at it.
Judging by your entire comment, you are just an idiot. Perhaps because all of the facts show that your boy Puutie is nuts for nukes you need to get a pay raise.
Go suck on 0bunghole's balls and come up with something better.
I had read on ZH that your favorite president ever, Obunghole, did not have balls. I will accept that you have verified that there are two since you sued "balls", a plural form. How was the nut nuzzle session?
Streets of Guangzhou are getting mighty dangerous with thousands of unemployed peasants who moved there for jobs [now unemployed] and the 300,000 immigrants [most of whom have simply overstayed thier visa by years and will never go back to their native country on the Dark Continent].
The 'in thing' there is not the knockout punch [like in USA] but slashing yoru hand/wrist so you drop your purse/bag/whatever and they grab and run. My friend had to have several tendons in her hand repaired there from this. The doctors told her happens almost every day now.
It's a pot that's gonna boil over.
Rat City. It is the most survivable of the options...good in many ways.
https://www.youtube.com/watch?v=PSllJxIpDqw
Step one instead of ass say bun like lick my buns or your a bun hole! Step two instead of ass say poo like eat my poo or poo is cool. Step three drop the t in bitch cuz bich is the word for her genorosity! Step four don't say fuck anymore just hold your breath and say "mmmmkay!"
Everybody!
It's easy, mmmkay!
Well, small comfort but some people have disappeared. Police said organ flogging.
now that is truely blood in the streets. never thought it would be that way.
hmmmm....
Still shooting for that 7% growth.
And the AIIB is the safest bank to invest in? Bahahaha! All falls down in a fiat economy.
ZH had it headlined as Good News.
Mindless cheering from the puppies trained to yap when the dog whistle blows.
yup, with caveot of hating mericas' policies of demise...
Landing? Still falling by the looks of things.
The recovery has never looked better....
"The shadow of crisis has passed"...and infected China.
What say you 50 cent bloggers?
Seems as if China needs to start a new Asian International Bank to fund the bailouts. Sure to be a success in building a loan portfolio.
Normal for the ZH crowd to cheer another bank with a ECB model.
Fortune cookies anyone?
Order whatever cookie you want.
You will get a Cow Pie, if anything.
I haven't had good sex Since Lehman. Does that mean anything?
it probably means your thingie is drying up.
Last good sex was 2003 and didn't involve wife. Butt I'll remembor it forever.
Does rape count?
Those banksters raped me in 2008 and they try it every friggin' day since then.
Then I got some Au and Ag. It was like a cross to vampires!
They came back. "Time to bugger LC again!" I held up my Maple Leaf and they screamed in pain!
Now I wear a small gold maple leaf on a necklace and my butthole is no longer sore.
The rail numbers are down for that period because it includes the Chinese New Year. The whole country shuts down for 10 days.
This article is bullshit.
Did they not have a New Year holiday last year? Must have skipped 2014!!!
Not only that, but the data cited here is actually historically GOOD because Chinese New Year puts huge pressure on Chinese manufacturers to fulfil orders, carriers to ship goods, factories to run "flat out," etc., just prior to the actual holiday.
IOW, Chinese New Year creates a VERY BUSY & BUSTLING ECONOMIC FRENZY.
Examples:
"In the lead up to the holiday, factories run flat out to fill orders before shutting"
"It all means an annual headache for retailers and importers overseas who rely on China. Shipping companies warn customers that China’s transport and logistics networks are at capacity and their shipments must be at ports two weeks ahead of the holiday to stand a chance of getting on a boat before the country shuts down."
http://www.bostonglobe.com/business/2015/02/18/chinese-new-year-and-its-...
'It's the largest annual human mass migration in the world, with more than 3 billion planned passenger trips.'
Yeah, all shut down
Global cooling.
Well the people with money in China already have a foot out the door with foreign property/Swiss bank accounts they know this thing's gunna go pear shaped?
Only a matter of when?
My foot's out the door, channeling, chasing, it's out there dangling, waiting for something to rip it off.
MY foot, however, is tucked up my ass and will take a come along to pull out. I know this is going to go to shit, don't remind me of it or I'm going to go pussy,
Hu Phlung Dung
bullish
The problem isn't China, it's us. The USA created the Chinese economy and now, since we're contracting, or, at best, not expanding, China gets it up the schwing-schwing.
The real problem - and I've been wrestling with this of late - is that we (anyone over the age of say, 35) allowed this to happen. An the older you are, the more guilty you are.
I did what I could, I guess, ran a newspaper back in the '80s, lots of satire, politics, money issues, and people liked it. Got shut down by Gannett (wonder why I don't like big corporations? Now you know). In the end, I could have and should have done more.
Is it too late? I think it is. 9/11 changed everything for the worse. More control, less privacy, higher taxes for incompetent government at all levels, bigger FSA, more theft by banks, fewer civil liberties, less recourse for grievances, more drones, more war, you get the drift.
I largely blame the Baby Boomers, but the Greatest Generation deserves a share as well. We all sucked off the government teat and played along as the US went from creditor to debtor to deadbeat, the phase we are now entering.
Money at 0% interest means what, exactly? That the money is worthless, and that concept is beginning to sink in. Was buying silver on ebay yesterday and noticed the number of sales for some items - and not cheapies - like 10oz silver bars. Huge numbers. Ordinary people getting out of dollars and who can blame them?
Swap your currency now. The dollar is wickedly overvalued. The Fed, et. al., is trying to paper it over, keep everything humming along, but it's a losing battle and I believe they know it and so do most of the pols in DC. If we make it to 2016 elections, I'll be shocked, but, I said that about 2012 back in 2009 and here we are. If the American public allows itself to get to the 2016 elections without significant reform of the process (the chances of that approaching ZERO), we will get what we deserve - capital controls turned all the way up, even more draconian laws, extreme violence in cities, much, much higher taxes, suspension of all civil rights.
It did not have to happen, but, the time to make a change of direction was in the 80s, not now. It is too late, and has been for probably 15 years. Whatever comes down the pike, I'll take my chances of surviving it over a junior congressman, for instance. Those types will be thrown to the masses like chum. Ain't gonna be pretty. Matter of fact, it's already pretty ugly.
Get gold (or silver) and get out, now, or suffer the consequences.
Great post. But you're not exactly a believer in giving someone even the slightest ray of hope, are you?
Note to self: double post, dumbass.
"Got shut down by Gannett"
Run through the mechanics of that if you don't mind. Guys with guns? Lawyer with check book? Or homo want ads dry up?
why do you think Chinese buying houses in US, EU and Australia? bad air and bad water = bad economy... Everyone in Asia is feeling the slow down in China
Look up "Operation Fox Hunt'. The State will not rest.
Last time I took a shower in Russia, the water was green and I developed a skin rash...
You think China is any smarter the rest of world? Massive QE on tap.
60% of Chinese Rail Traffic is used to carry Coal
"..China lands hard.."
The dream of the american hungry chicken.
"I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... http://goo.gl/ezLA00"
Someone needs to inform the labour department because they could use this to guarantee full employment at well-paid full time jobs.