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WSJ Notes "Chances That China's Data Is Real Is Very Low" Then Promptly Scrubs It

Tyler Durden's picture




 

Last night, when China reported a trifecta of better than expected data, coming at just the wrong time when everyone was hoping for even more PBOC easing and government intervention to bolster the rigged (by now nobody doubts there no longer is a Chinese stock market but merely yet another "policy tool") market's upward trajectory.

 

Ironically, none other than the Chinese economic data aggregator and reporter, the NBS, essentially confirmed the data is fabricated when it said, and we quote:

  • CHINA'S GDP 'NOT OVERESTIMATED', NBS SHENG SAYS

Because there is nothing quite like an official denial to confirm what everyone has known for years.

But that was not what caught our attention in the overnight data, and its broad coverage.

What did was the original WSJ summary report on the Chinese data, which contained the following rare admission of just how rigged not only China's stocks are, but its entire economic reporting:

The punchline was flagged by none other than Janet Yellen's old nemesis, WSJ's Pedro da Costa:

This is excerpt that was originally part of the WSJ's report on the Chinese data authored by Chao Deng around midnight Eastern and titled "China Stocks Fall Despite Rosy Growth Data" (a cached version can be found here):

China's growth held at 7% in the second quarter, a level economists had deemed unlikely given signs that Beijing's policies to jump-start the world's second-largest economy hadn't yet taken hold. The median forecast by 14 economists surveyed by The Wall Street Journal was for 6.8% growth in the quarter.

 

"The longer term outlook remains one of structural slowdown as the economy works through a painful process of adjustment and deleveraging," said Andrew Colquhoun, head of Asia-Pacific sovereigns at Fitch Ratings. The ratings firm nevertheless expects a pickup in growth during the second half of the year, after recent monetary and credit-policy easing.

 

That growth even managed to hit 7% also refreshes debate about the reliability of Chinese statistics.

 

"The chances that that data is real is very low," said Alicia Garcia Herrero, Natixis's chief economist for the Asia-Pacific region. "Would you publish GDP data that looks south at this point in time? I don't think so."

Such brutal honesty, even if in paraphrase. And yet, did someone make an error allowing this much truthiness to sneak through strict editorial efforts? We ask because when we look at the final draft of the WSJ report now titled "China Stocks Tumble as Investors Doubt Beijing’s Help", and updated at 5:14am, we find....

Nothing.

The entire quote by Natixis' Herrero has been completely scrubbed, as is both the observation that "the chances that the data is real is very low" and the rhetorical question if one would:"publish GDP data that looks south at this point in time? I don't think so."

Apparently, if one is the WSJ, one would also not publish a quote stating just that.

* * *

And while the WSJ scrubbed the article, whether after a tap on the shoulder or not, it forgot to remove comments that quotes explicitly from the article:

... a "quote" that is no longer there.

Source: original WSJ cached version and final version

 

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Wed, 07/15/2015 - 10:57 | 6315244 The Chief
The Chief's picture

When written in Chinese, the word 'crisis' is composed of two characters. One represents danger and the other represents opportunity.

John F. Kennedy

Wed, 07/15/2015 - 11:05 | 6315259 hedgeless_horseman
hedgeless_horseman's picture

 

 

Fake hair, fake eyelashes, fake lips, fake tits, high heels...tell me about how you want a real man.

Fake US treasury prices, fake SP500 option prices, fake bids, fake asks, fake WTI inventory, fake Beige Book...tell me about how you want real economic numbers.

Wed, 07/15/2015 - 11:07 | 6315289 pods
pods's picture

WSJ doesn't want another DOS attack.

pods

Wed, 07/15/2015 - 11:09 | 6315303 BoPeople
BoPeople's picture

The west got caught putting their appendage in the dragon princess' cookie jar.

Wed, 07/15/2015 - 11:49 | 6315473 TBT or not TBT
TBT or not TBT's picture

Confucius say: "Wise coyote not look down"

Wed, 07/15/2015 - 11:07 | 6315290 thestarl
thestarl's picture

All the money she has surely she could source a better tit job than that?

Wed, 07/15/2015 - 11:26 | 6315391 J Jason Djfmam
J Jason Djfmam's picture

They should sing and dance.

Wed, 07/15/2015 - 11:08 | 6315295 Ignatius
Ignatius's picture

Yet, I'd still do her.

Sometimes I think my personal tragedy is the tragedy of all mankind.

Wed, 07/15/2015 - 11:12 | 6315326 Dr. Engali
Dr. Engali's picture

Are you sure that's a her?

Wed, 07/15/2015 - 11:50 | 6315498 pods
pods's picture

Worth a shot?

Wait, is that the Spice girl who married the soccer guy?

I take that back.  He's nasty.

pods

Wed, 07/15/2015 - 12:47 | 6315809 Jim in MN
Jim in MN's picture

The one who makes me think 'fook' all the time because of her goddamn Scottish accent?

Fookin' wrecked me favorite word, she did.

Wed, 07/15/2015 - 15:48 | 6316670 TheReplacement
TheReplacement's picture

Fookin' A.

She was ridiculously hot when she was real.

Wed, 07/15/2015 - 12:07 | 6315599 City_Of_Champyinz
City_Of_Champyinz's picture

Google the song 'Dancing with a man', watch the youtube video, it is fucking hilarious and will make ya wonder...

Wed, 07/15/2015 - 11:14 | 6315341 Oldwood
Oldwood's picture

Yes, we are flawed, which only depresses us when we think about it, so we must find things to entertain us so as to not dwell upon it.

Wed, 07/15/2015 - 12:36 | 6315753 falconflight
falconflight's picture

Heartfelt smile

Wed, 07/15/2015 - 11:10 | 6315307 Dr. Engali
Dr. Engali's picture

And that right there is Murica wrapped up in a nut shell. That is a woman right? 

Wed, 07/15/2015 - 11:22 | 6315371 NoDebt
NoDebt's picture

Sober, I could tell you for sure.  With a few drinks in me, like I am now, I'm the wrong person to ask.

Wed, 07/15/2015 - 11:23 | 6315378 hedgeless_horseman
hedgeless_horseman's picture

 

 

It's times like this when you really need to avoid Thailand.

Wed, 07/15/2015 - 11:33 | 6315428 gaoptimize
gaoptimize's picture

The fake tits are because too many men don't appreciate As & Bs that hang naturally.  I could have, with great pleasure, loved her the way she was if she was a good mother.

The fake data is because noone wants to pay the piper and live within our increasingly meager means when the music stops.  

Wed, 07/15/2015 - 13:48 | 6316108 ThroxxOfVron
ThroxxOfVron's picture

"The fake tits are because too many men don't appreciate As & Bs that hang naturally.  "

 

Speak for yourselves.

I've been known to eat a whole bag of M&Ms all by myself..

Wed, 07/15/2015 - 12:15 | 6315649 KnuckleDragger-X
KnuckleDragger-X's picture

HH, you have to admit that they represent America in the 21st century.....

Wed, 07/15/2015 - 12:24 | 6315683 Consuelo
Consuelo's picture

Yeah, but bangin' those tits my nut sure ain't fake ---

Wed, 07/15/2015 - 10:58 | 6315246 JustObserving
JustObserving's picture

The free and fair media of the West doing their jobs to the best of their ability and ethics.

If the WSJ censors itself on China, what do you think it does about the land of the free?

Wed, 07/15/2015 - 11:21 | 6315366 NoDebt
NoDebt's picture

Stuff like this is exactly why I know that the elites have the next collapse planned.  It won't be an accident.  They see the same thing's we're seeing- unsustainable debt piling up everywhere.  They know it's never getting repaid.  They know the world's growth trajectory is flattening and isn't enough to pay for past promises, let alone future ones.  They are just planning and coordinating when to hit the "detonate" button, be that financial detonation or actual physical detonation.

Wed, 07/15/2015 - 11:30 | 6315418 Dr. Engali
Dr. Engali's picture

You've been reading Michael Snyder while drinking again haven't you?

Wed, 07/15/2015 - 10:58 | 6315251 ebworthen
ebworthen's picture

"Everything is Awesome!  Get back to work serfs!  And buy some stawks!"

Wed, 07/15/2015 - 11:02 | 6315263 Budnacho
Budnacho's picture

Argh....this is only getting better by the day. Wonder what the Chinese Govt's plan is for 200+ Million newly-poor peoples...

Wed, 07/15/2015 - 11:16 | 6315349 Buster Cherry
Buster Cherry's picture

Cash a buttload of UST's

Wed, 07/15/2015 - 11:24 | 6315381 J Jason Djfmam
J Jason Djfmam's picture

Grease the Machine.

Wed, 07/15/2015 - 11:02 | 6315268 ThisIsBob
ThisIsBob's picture

They all lie.  That's not news.

Wed, 07/15/2015 - 11:14 | 6315331 upWising
upWising's picture

Bob, Bob, Bob.  You are so HARSH with your words about Our Leaders.

"LIE," you say.  No, Bob.  Sometimes they need to embellish or soften news that would upset the populace, but that is good.

Rather, Bob, I would say Our Leaders occasionally, for our own good, draw the line between Fact and Fantasy in a different place thatn you and I might. 

But LIE?  Never!

Remember, Bob.  Soft and easy, like a Billyclub!

Wed, 07/15/2015 - 11:02 | 6315271 Superdave532
Superdave532's picture

Wow.. The farce is strong with this one.. 

Wed, 07/15/2015 - 11:02 | 6315272 blackhand
blackhand's picture

I guess their arresting reporters now too...

Wed, 07/15/2015 - 11:03 | 6315274 ThisIsBob
ThisIsBob's picture

Silly putty?

Wed, 07/15/2015 - 11:05 | 6315283 i_call_you_my_base
i_call_you_my_base's picture

Why would anyone expect it to be correct? They fake their pollution numbers FFS.

Wed, 07/15/2015 - 12:23 | 6315678 redd_green
redd_green's picture

.. and put melamine in baby food, and industrial waste oil in food products, and ground rat meat in hamburgers in Shanghai....

Wed, 07/15/2015 - 11:08 | 6315293 Dragon HAwk
Dragon HAwk's picture

Damn it, who's in charge of keeping track of the Lies around here... doesn't anybody know the truth anymore how the hell  are we going to screw the baseline if somebody doesn't know the truth at least for a few minutes.. Who the Hell fired the last Honest Guy, we had.

Wed, 07/15/2015 - 12:21 | 6315674 redd_green
redd_green's picture

Oh, don't worry, don't worry.  The Chinese   US censors are at work, right on top of things, keeping the news safe from any real truth.

Wed, 07/15/2015 - 12:48 | 6315813 SillySalesmanQu...
SillySalesmanQuestion's picture

The Lie Meter has been pegged and red lined for a while....no amount of engineering has been able to build a new one that could keep up on a hourly, daily, weekly or even monthly basis.

Wed, 07/15/2015 - 11:08 | 6315294 besnook
besnook's picture

kind of ironic to hear denizens of the most manipulated market in the world criticize the most dynamic market in the world for manipulation of economic data. the only criticism should be about their amateur attempts viv a vis the truth tellers in the usa.

Wed, 07/15/2015 - 11:09 | 6315297 Dr. Engali
Dr. Engali's picture

The lapdog coporate media should know by now that you never ever report the truth. You might find the engine ejecting while "driving" your out of control Mercedes.

Wed, 07/15/2015 - 11:09 | 6315299 ZoroAustrian
ZoroAustrian's picture

This is all extremely rich coming from the centre of lies, corruption, and financial scammery

Wed, 07/15/2015 - 11:11 | 6315321 rsnoble
rsnoble's picture

The US doesn't need anymore costly computer 'glitches'.

Wed, 07/15/2015 - 11:18 | 6315355 falconflight
falconflight's picture

Looks like the ZioMaos are in control from Peking to Jew York City.  ;(

Wed, 07/15/2015 - 11:18 | 6315358 rosiescenario
rosiescenario's picture

Started reading the WSJ in 1970....read it everyday for many years.....cancelled it about 8 years ago because its articles had become just an echo of the corporate P/R departments...guess it is now an echo of various countries' P/R departments, too.

Wed, 07/15/2015 - 11:19 | 6315361 Gab Timov
Gab Timov's picture

Na Ting Wong

Wed, 07/15/2015 - 11:20 | 6315363 Oldwood
Oldwood's picture

So, to induce someone to place a bet, are we saying it is immoral or somehow wrong to accentuate the positive and diminish the negative? Very few people selling anything could survive long with those standards. As is always the case, everything is about degrees of relativity, which is something coincidentally that our modern elitists would tell us is irrelevant....that all things are equal, that we can't discern threat differentials, that the risk from dying at the hands of a terrorist (domestic of course) is as relevant as dying from heart disease. Ignore all reality and simply follow their lead.

How many fingers am I holding up??

Whatever you say it is...

China is BOOMING!

Wed, 07/15/2015 - 11:25 | 6315388 Gab Timov
Gab Timov's picture

Risk is everywhere. And it's all relative. Everything is relative to everything else. Still though, if you have a rose in one hand and a pile of poo in the other, there is some cancellation effect, no? The poo smell can overpower the rose smell.

 

Wed, 07/15/2015 - 11:27 | 6315405 Fun Facts
Fun Facts's picture

The Chinese government lies about economic data but the ZWO occupied USA govt tells the truth.

Look at what you're being asked to believe by the NYT ZWO propagandists.

Wed, 07/15/2015 - 11:43 | 6315467 Itch
Itch's picture

Probably pulled it because without proof the statement is nothing but hyperbole...

"the chances that the data is real is very low"...

it's a quantitative statement that assumes there is a sample set out there somewhere that can estimate Chinese trustworthiness. I don't rank them high on trustworthiness myself, but then like ZH, I don't have any journalistic standards.

Wed, 07/15/2015 - 11:44 | 6315470 CHC
CHC's picture

There is no reality - everything we see, feel, smell, taste, hear is all one's own perception.  Your perception is not necessarily mine.

Wed, 07/15/2015 - 11:50 | 6315500 chinaboy
chinaboy's picture

The chance people actually believe in those numbers are still low. 

Wed, 07/15/2015 - 11:55 | 6315527 chosen
chosen's picture

Same with US government data.

Wed, 07/15/2015 - 12:04 | 6315582 Loucleve
Loucleve's picture

I cancelled my subscriptions to WSJ and everything else years ago.

if it werent for the wall street reader, they would be out of business.

Wed, 07/15/2015 - 12:14 | 6315646 MathWins
MathWins's picture

I stopped reading the WSJ several years ago, when it became apparent it was no more reliable when the rest of the MSM.

Wed, 07/15/2015 - 12:25 | 6315694 orangegeek
orangegeek's picture

Funny - the masses know that china's data is pure shit.

 

Wed, 07/15/2015 - 12:29 | 6315722 DanielH
DanielH's picture

When the things in China look better than you think, you said they lied. When the things are actually better than you think, you said that they purposely hid their strength. In summary, the mentality in the West is that it is impossible for Asian people do better than us. 

Wed, 07/15/2015 - 12:31 | 6315731 orangegeek
orangegeek's picture

Who needs the WSJ when you have TYLERS!!!!!!!

Wed, 07/15/2015 - 12:31 | 6315732 Consuelo
Consuelo's picture

The WSJ won't be 'scrubbing' for long, as planting the seeds of 'China-as-enemy-currency-manipulator-hacker-cum-terrorists-hegemon-of-the-South-China-Sea, is the upcoming new meme for the War party/s.    Remember, the Wolfowitz Doctrine dictates the ability to take on at least (2) major 'enemies' simultaneously.    Think of it as a geopolitical 'Randori' of sorts...

Wed, 07/15/2015 - 13:05 | 6315883 q99x2
q99x2's picture

They would appear more credible if they didn't publish anything ever again.

Wed, 07/15/2015 - 13:14 | 6315928 malek
malek's picture

Better scrub it before anybody asks the obvious follow-up question about the US' data chances...

Wed, 07/15/2015 - 13:22 | 6315962 Iam Yue2
Iam Yue2's picture

 

China stocks fall despite rosy growth data  MarketWatch-12 hours ago

 

“The chances that that data is real is very low,” said Alicia Garcia Herrero, Natixis's chief economist for the Asia-Pacific region. Would you ...

 

The Google cache - Then you read the article (nothing)

 

http://www.marketwatch.com/story/china-stocks-fall-despite-rosy-growth-d...

Wed, 07/15/2015 - 15:42 | 6316649 mastersnark
mastersnark's picture

"Double plus good effort, Winston. Double gin ration for you."

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