A JP Morgan strategist just was on the tele discussing China and how we’re all morons for getting worried about a declining Chinese PMI, in what he describes as the “old Chinese economy.” He posits, the Chinese government has been signaling they’d be moving away from an industrial production economy and into services; therefore, ergo, it’s only logical to see PMI contract.
Moreover, he’d like you to pay close attention to services and consumption levels in China. Debt levels on a government level are low and they’re moving towards a more mature and stable economy, one perhaps functional sans graft and wanton corruption.
“People are surprised to see China permit the “old economy” to slow, because they have monkey sized brains and are devoid of cognitive thinking.” –JP Morgan (okay, I was paraphrasing a little there.)
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Stubbs First major job in 2012 and have job jumped with his PhD in Economics to a couple of spots onto JP Morgan. That is it. I have been following the Shanghai Copper Bubble longer then he has been working. There is a reason why most economist don’t see bubbles until it’s too late.
Anybody else following Warren into Phillip 66?
What a snooty ponce.