These numbers were so bad the Ghost of Christmas past will be visiting the Chinese premier this evening.
Things are getting real greasy down in doggie hell, as the piece of shit, nefarious, goods out from China get rejected around the globe.
Overseas shipments tumbled 25.4 percent in U.S. dollar terms from a year earlier, the customs administration said on Tuesday, compared with a 11.2 percent drop in January. Imports extended a streak of declines to 16 months, slumping 13.8 percent, leaving a trade surplus of $32.6 billion.
A slowdown in global trade is making it harder for China’s leaders, who are gathered in Beijing this week to set the nation’s economic plans, to keep growth at the targeted 6.5 percent to 7 percent range. Reflecting the uncertainties, the government didn’t set a specific target for trade at the annual congress meeting after it failed to meet the goal last year.
“The government has formally recognized that foreign trade growth rate is not something the government can and should control,” analysts at Goldman Sachs Group Inc. including Song Yu wrote in a note ahead of the trade release.
I know, I know. H. Clinton is gonna make America whole again and the crazy fucking Mexicans are going to lead America to the promise land, one rogue vagrant at a time.
Meanwhile, the world burns.
S&P futures are off 10.
Both China and Japan: sharply lower.
Good evening.
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Illegal Mexican immigrants are going to continue to pick our fruits and vegetables. And so they will keep these crops from becoming scarce in the grocery and skyrocketing in price– no matter who becomes pres. There are very few American citizens who are even capable of doing such hard work for such long days out in the hot sun.
Who has lost their job to an illegal Mexican immigrant? I don’t know anyone. But it’s easy to see that H-1B visa people are legally coming here & taking high tech jobs that American are qualified to do, but the foreigners will do them for lower wages. Trump was initially against H-1B visas, but now is for them, as he tries to begin pleasing the 1% and the GOP corporate donors.
Many of Trump’s supporters say they will vote for him no matter what. I think he has enough savvy not to say outright that he’ll change his mind about Social Security and is now willing to slash it. But even if he does, perhaps the die hard supporters will still support him. They’ve fallen in love with Trump and nothing can take the stars out of their eyes.
I guess the market is due for a pullback. Devil Dogs may briefly get to dance again.
Briefly? The last two US deflationary depressions each lasted over 20 years. I think this one will set a new record in longevity. There has never been a debtberg even remotely comparable to the current one. And it is global.
Time will tell.
+1
No surprise. China is in a bear market.
This is bullish as shit for the motherland folk wanting to upgrade to brand new woodened flooring I bet.
Don’t breathe the fumes!