'Anti-Goldilocks' China Data Not Enough To Move Needle

Tyler Durden's picture


A fractional miss of estimates for GDP growth (printing at +7.6% vs expectations of +7.7%) coupled with a just-as-fractional beat in Retail Sales (+13.7% YoY vs expectations of +13.4%) seems to be the perfect remedy for a global-depression-expecting and/or massive-stimulus-hungry market. GDP growth was its slowest since March 2009 but it appears the 'sell the rumor, buy the news crowd' are disappointed. S&P 500 futures popped a few pts and then faded back - remaining around +3pts for now (and EUR rallied into the number, sold off on the print and is now limping back higher). As we noted earlier, this is not the data you have been looking for - instead focus on hot money flows and the property pop, as the Chinese continue to impress with their 'data' showing the first engineered 'soft-landing' in history.

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Thu, 07/12/2012 - 23:00 | 2611809 todayone
todayone's picture

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Thu, 07/12/2012 - 23:14 | 2611840 TheFourthStooge-ing
TheFourthStooge-ing's picture

Of course, the Chinese Communist upper struggle for power will be in this last scene was very impressive and ugly bestiality on its head. Finally, you will find that they are not only some of the hypocrites, bandits, wolves, is an absolute coward.

Oh, yes....fuck off spammer.

Thu, 07/12/2012 - 23:39 | 2611874 AlaricBalth
AlaricBalth's picture

The irony is, that spam was generated out of China using translation software. They must really want to see those Retail Sales numbers go up next quarter. Spamming for dollars.

Fri, 07/13/2012 - 01:23 | 2611990 rocker
rocker's picture

In a rigged phony market, we should get a major rally tomorrow. I am all cash as I have quit long ago.

But as it is, in a manipulated casino the news is bad so we should rally.  JPMorgan's and Goldman's Dark Pools profit everyday.  Do YOU ???

If JPMorgan reports bad or negative trends quarter over quarter with or without the whale it should rally too.

The Bankster's Scam continues on. Price is NOT truth. The HFTs, Goldman, JPMorgan Barclays along with other fraudulent banks rig it all.

The Banksters control interest rates, comodity prices and equity prices. It is all rigged and manipulated to be whatever price they want it to be.

Ever notice how short interest gets high and then the markets ramp up while nobody is actually buying anything. Where the hell is the SEC.

They front run all honest trades and then manipulate price to make it a bad trade. It's the worst I've seen in thirty years of trading.


Fri, 07/13/2012 - 01:30 | 2612000 dlmaniac
dlmaniac's picture

China's GDP has been LIBOR-ed as well.

Thu, 07/12/2012 - 23:16 | 2611845 Burr's 2nd Shot
Burr's 2nd Shot's picture

Skynet may be homicidal, but context seems to be an issue.

Turing Test fail.

Fri, 07/13/2012 - 02:43 | 2612045 Buck Johnson
Buck Johnson's picture

CNBC is saying it met expectations.  So it was lower by 1 tenth but they said it was the same, in a sense they are right but they are wrong also.

Thu, 07/12/2012 - 23:01 | 2611813 ekm
ekm's picture

Wow. Are you implying that there are people who are actually trading securities in the market? I don't think so.


If we have just 21 Primary Dealers trading with each other world wide and everybody else has withdrawn the money, who actually cares whether the needle moves?

Thu, 07/12/2012 - 23:06 | 2611822 kito
kito's picture

Its laughable that people are anticipating a china implosion.....ain't gonna happen.....buy yuan.....be happy......

Thu, 07/12/2012 - 23:09 | 2611831 TheFourthStooge-ing
TheFourthStooge-ing's picture

China just forrowing script according to their prans.

Thu, 07/12/2012 - 23:33 | 2611863 ghenny
ghenny's picture

Dream on.  That's the kind of BS people were saying about Japan and look what happened to them.  Societies that don't do much immigration, have rapidly aging populations and are centrally controlled in theory while trying to operate a capitalist system eventually wind up in deep do do.  China is no different.  It will come faster for them because of the 1 child policy, the environmental disasters that are piliing up and because they are so much bigger and under the surface really out of control.  

Fri, 07/13/2012 - 00:35 | 2611938 kito
kito's picture

chinas "poor" population are rural dwellers who have saved all their life, have no debt, self sufficient, work hard, aren't feeding from the government teet.....lets compare that to americas poor population, shall we????......

Fri, 07/13/2012 - 00:42 | 2611946 The Monkey
The Monkey's picture

Sure, there is no arguing these Chinese work very hard. That doesn't mean the economy or political system is sound.

You may want to review what Jim Chanos has to say. Google it.

Fri, 07/13/2012 - 04:58 | 2612087 kito
kito's picture

It means that a government which isn't drowning in debt while feeding and clothing half of it's households is alot better off than a country that is..............

Fri, 07/13/2012 - 06:18 | 2612105 mjk0259
mjk0259's picture

Which type of society is not ending up in deep do do?

The ones that allow a lot of immigration and end up with radically different subcultures and perpetual slums?

The ones that don't have rapidly aging populations- Nigeria? India?

Not centrally controlled in theory - US? Spain?

Trying to operate a socialist system - North Korea? Cuba?



Thu, 07/12/2012 - 23:08 | 2611828 chump666
chump666's picture

All I saw was HFTs trade the number. China just gave the market it's consensus number of 7.6%, it is a pathetic and embarrassing number fudge.  China has sticky inflation and will continue to leak massive outflows, any inflows will be the goverment trying to play the property card with Yuan settlements.  I would say that China won't just crash, but economically explode...very soon.  They are losing control of reality.

Thu, 07/12/2012 - 23:13 | 2611838 JackT
JackT's picture

Yeah, but she just tipped her hand. Remember she was suppose to save the world

Thu, 07/12/2012 - 23:23 | 2611854 chump666
chump666's picture

That is utterly frightening to think that the whole market believes that China is a Saviour, when every analyst working in western banks are stress testing for the China apocalyps.

I think the Citi guy was right, one big massive rally, next few weeks.  Then the end.

Thu, 07/12/2012 - 23:46 | 2611885 Totentänzerlied
Totentänzerlied's picture

Then Krugman pops a boner and the real QE begins. Then the end.

Fri, 07/13/2012 - 00:24 | 2611923 chump666
chump666's picture

haha, yes that would sound about right.

although *shudder* at Krugman with a boner.

Fri, 07/13/2012 - 01:38 | 2612006 knukles
knukles's picture

Krugman is a Boner

BTW, where is the little shit?
Sure hasn't been here lately.
And the was it Kernan called him a Unicorn on CNBS?

Gone back to his nasty cubicle at the NYT and sharing cold coffee with Maureen Dowd and Tommie Freidman? 

Fri, 07/13/2012 - 01:46 | 2612013 chump666
chump666's picture

"sharing cold coffee with Maureen Dowd and Tommie Freidman?"


I dig the guy at NYT who writes film reviews he is ok.

But Marketwatch are about to get their fat short squeeze

Fri, 07/13/2012 - 04:40 | 2612084 foxenburg
foxenburg's picture

Vincent Canby? or is he dead?

Fri, 07/13/2012 - 01:01 | 2611962 The Monkey
The Monkey's picture

Economic data, aggregate earnings strength & the USD alone are not conducive to a big rally. Also, we don't have the sentiment conditions to help move prices too far.

All we really have is the rest of earnings season and Apple (which we all know almost is a certain blowout) to move stocks. With a lot of luck and momentum we get a little above 1400, but with guidance being what it has been, I certainly wouldn't count on it.

Thu, 07/12/2012 - 23:28 | 2611857 ghenny
ghenny's picture

I completely agree. How can anyone believe their numbers or that they are superhuman and can defy the laws of gravity and business cycles.  These guys are heading for a very hard landing.  They cannot possibly control a multi trillion dollar complex adaptive system with 1.2 billion people that are facing demographic disaster to the downside.

Thu, 07/12/2012 - 23:11 | 2611830 JackT
JackT's picture

Pop n Lock..Pop n Lock..I never could get that dance move just right, but I had killer robot moves. Time to dire up some old tyme rap!

Thu, 07/12/2012 - 23:09 | 2611832 genr8n
genr8n's picture

Who can / would believe the "Chinese Official Data" print?

Thu, 07/12/2012 - 23:15 | 2611843 Dr. Engali
Dr. Engali's picture

Who can/would believe ours?

Fri, 07/13/2012 - 00:26 | 2611926 LetThemEatRand
LetThemEatRand's picture

aren't you in China?

Thu, 07/12/2012 - 23:10 | 2611834 zorba THE GREEK
zorba THE GREEK's picture

For the real deal, always follow the hot money. When the money goes, so does the growth.

Thu, 07/12/2012 - 23:15 | 2611842 Atomizer
Atomizer's picture



With the Baltic Dry Index reaching 2008 lows, Mayer Bloomberg has ingeniously thought out a way to curb empty shipping lines 

 Container apartments rent for 8 yuan a day


NYC real estate boom is merely a ground floor opportunity.


Thu, 07/12/2012 - 23:19 | 2611850 Burr's 2nd Shot
Burr's 2nd Shot's picture

Remind me again, did Goldilocks get eaten by the bears, or did she live happily ever after?

Thu, 07/12/2012 - 23:37 | 2611871 Schmuck Raker
Schmuck Raker's picture

SEC porn version?

Thu, 07/12/2012 - 23:25 | 2611856 chump666
chump666's picture


*SG GDP drop + KR growth f'cast cut + ASEAN outflows sign of rising bearishness


Thu, 07/12/2012 - 23:30 | 2611861 El Tuco
El Tuco's picture

I know someone from China will probably come on and tell me that I am wrong and everything is ok..blah..blah..blah...but I deal with about 5 -8 factories in China and they are starting to talk crazy and are just a few weeks away from begging me to place more orders. These aren't small factories. One is actually massive. Shit has slowed down and not just for them but for me too. So hard to predict what is gong to happen. Everyone I know including me is just trying to hold off and not spend any money. Which makes the situation worse I'd imagine. Even trucking is starting to slow. This just might be the second shoe dropping.

Thu, 07/12/2012 - 23:42 | 2611880 Atomizer
Atomizer's picture



The China bitchez need to agree with new WTO demands in order for them to roll out new subsidizes.


hahahahaa. I can’t breathe from laughing so hard.. Hahahahahaha


Fri, 07/13/2012 - 00:42 | 2611945 adr
adr's picture

Same boat here. China built factories to pump out products for 2003-2007 America. Not a new American depression.

Factories are begging for orders, cutting prices, and paying for shipping. The workers are also wanting increased wages.

I wouldn't want to own a Chinese factory right now.

Thu, 07/12/2012 - 23:35 | 2611868 Schmuck Raker
Schmuck Raker's picture

"...the Chinese continue to impress with their 'data' showing the first engineered 'soft-landing' in history."

I like the "New, Kinder, Gentler Tyler Durden."

Thu, 07/12/2012 - 23:40 | 2611875 Cult_of_Reason
Cult_of_Reason's picture

Who are the assholes bidding up S&P futures tonight?!

Moody's downgraded Italy ahead of the bond auction.

Chinese fake made-up GDP numbers were bad (real numbers are even worse). Shanghai Composite is flat to down after the data.

Singapore GDP contracted 1.1%.

Yet, the assholes (JPM prop fuckers?) are bidding up the futures tonight.




Fri, 07/13/2012 - 00:43 | 2611947 adr
adr's picture

NY Fed, same as always.

Fri, 07/13/2012 - 02:01 | 2612025 Cult_of_Reason
Cult_of_Reason's picture

NY Fed / Goldman / Citadel have been using Aleynikov Algo lately to violently mark down VIX and mark up ES before the close.

Fri, 07/13/2012 - 01:13 | 2611975 The Monkey
The Monkey's picture

You must be sitting on an open short position. You should close that baby well before Apple announces.

Fri, 07/13/2012 - 01:51 | 2612020 Cult_of_Reason
Cult_of_Reason's picture

Do you really think I need a market advice from an Apple fanboy?

Thu, 07/12/2012 - 23:41 | 2611877 indianajohns04
indianajohns04's picture

futures are back @ highs my vxx is going to get crushed over the next week where is the fear

Fri, 07/13/2012 - 01:16 | 2611979 The Monkey
The Monkey's picture

Earnings season bro. Apple coming right up.

Fri, 07/13/2012 - 03:37 | 2612066 Piranha
Piranha's picture

yep after apple earnings market will start to look ugly

Thu, 07/12/2012 - 23:44 | 2611882 RobotTrader
RobotTrader's picture

The entire world economy is in the tank.


Question:  What happens to stocks when things improve?

Question:  Why is ES trading over 1300 and not crashing towards 800?


Thu, 07/12/2012 - 23:51 | 2611891 Totentänzerlied
Totentänzerlied's picture

Did RobotTrader just say something true, honest, and accurate?

Fri, 07/13/2012 - 00:15 | 2611915 gjp
gjp's picture

Except for the "when things improve" part

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