Posted on 02/29/2020 10:33:56 AM PST by blam
One week ago, ahead of today’s Chinese data release which would for the first time capture the devastation from the coronavirus pandemic, we wrote that “to those who have been following our series of high-frequency, daily indicators of China’s economy, it will probably not come as a surprise that the world’s second biggest economy has ground to a halt, its GDP set to post the first negative print in modern history. To everyone else who is just now catching up, we have some news: it’s going to be bad.”
Specifically, we said that ahead of official Chinese economic data which will soon start capturing the period when the coronavirus crippled the country’s economy, Nomura’s Chief China economist Ting Lu pointed out that China’s Emerging Industries PMI (EPMI), which gauges momentum in the country’s high-tech industries and is closely correlated with official manufacturing PMI, slumped to 29.9 in February (from 50.1 in January!), its lowest-print on record, which was a “pure reflection of the devastating impact of the COVID-19 outbreak.”
What would this mean for the closely followed China manufacturing PMI? As Nomura added, "even adjusting for seasonality and expected progress in business resumption in the coming week, we estimate the official manufacturing PMI could drop to a range of 30-40 in Feb."
In retrospect, it turns out that Nomura's dire forecast was optimistic, because moments ago China's National Statistics Bureau reported the latest, February PMIs and they were absolutely catastrophic:
(snip)
(Excerpt) Read more at sgtreport.com ...
What generational economic shot in the arm retooling America would be!!! Look at as a good thing!!!!
I was thinking that would happen, especially knowing Trump, but I have not seen any reports that this is being considered.
Most US economist are lying globalist propagandists pushing an agenda.
+1000!! They are too involved in our politics and internal affairs. Every politician and citizen that curries favors because of Chinese influence money is a seditious traitor. This is being strongly hinted at in many stories and we are beginning to see the FBI start to nail people. I suspect that much money from China is being laundered through the likes of Soros and Bloomberg! This “crisis” boomeranged on them. Time to call out the Imperial Storm-troopers and kick ass.
We sold China the rope to hang us with.
Who is we? I never voted for high income taxes on US workers and zero import tariffs. Did you?
It isn’t commonly known, but the war department had been preparing the switch of the economy and manufacturers to military production for years in anticipation of WWII.
I learned this listening to an interview on Larry King back in the 80s or early 90s. His guest may have been either the author of a Gen. George Marshall biography or the author of “At Dawn We Slept”.
The policy of the US govt since the 80s seems to has been to reward globalization and domestic deindustrialization, so we wont be able to pull off such a rapid switch.
And now? All those piles and piles of cash that were flowing to the hands of those “astute” investors in China, suddenly see the application of a reverse Midas touch, in which all things gold are converted back to common dirt, and not even cryptocurrency is a good refuge. Recent swings in the bitcoin market have dropped value as much as 15% in just the past week, making it much less of a safe haven than gold or silver, which are also taking their hits.
Karma will not be denied.
It isn’t commonly known, but the war department had been preparing the switch of the economy and manufacturers to military production for years in anticipation of WWII.
I learned this listening to an interview on Larry King back in the 80s or early 90s. His guest may have been either the author of a Gen. George Marshall biography or the author of “At Dawn We Slept”.
The policy of the US govt since the 80s seems to has been to reward globalization and domestic deindustrialization, so we wont be able to pull off such a rapid switch.
Or they could just come here on vacation...
And spit out a kid who will become repatriated with America around the age of 20...……….
.
You wish LOL...sadly for you, you are not in any position of power. May be run for a congressman or something.
Grandpa and I were discussing that many decades ago.
What should happen to Free Traitors™, well it involves ummarked graves....
Find out who helped China get into WTO, and there is your answer.
That is one of the rumors. It would be interesting to know how he came to his conclusion.
True That !
Sorta like us supplying the Japanese our steel prior to WWII
Same scenario,.. different perpetrator !
Now we need to hold accountable al of those pro-China congress critters who accept laundered Chinese money through Globalist enterprises.
Actually, if it weren't for 'globalism', chances are we'd have our own production, and not be so highly dependent on Chines manufacturing.
Perhaps our Chinese dependency is another by-product of Soros international money politics in intervention of government
- create crisis, and then cash in for profit.
+10000!! It is time to put an end to this treason without mercy!!!
So mr know it all, how come these 4 manufacturers out-sell New Balance by 50:1?
1. Nike
2. Adidas
3. Under Armour
4. Skechers
How come you are still above ground?
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