China – Peddling Economic Fiction
by Rory, The Daily Coin Jeff Brown, China Rising, who has been the eyes and ears of China for Shadow of Truth for close to a year, was recently discussing the new Shanghai Gold Exchange Physical Future’s Market along with some economic news. During the conversation we were given a glimpse of what is actually happening in China in light of all the truly terrible economic news the mainstream corporate media continually spews across the airwaves. As one may suspect the gap between what is reported and the true reality of China’s economy is vast. We are constantly reminded how well the U.S. economy is doing and how the “recovery” is on track. Mr. Obama went so far as to say that “Anyone claiming that America’s economy is in decline is peddling fiction.” Apparently, Mr. Obama failed to review the Gross Domestic Product (GDP) numbers prior to making this statement. If he had of simply googled “USA GDP 2015” he would found the following chart. I’m not a PhD economist like the ones that work in U.S. Treasury Dept. or at the Federal Reserve, but I can read. I can also decipher pictures and charts. If my lying eyes don’t deceive me, it appears when Mr. Obama made the above statement, during the 2016 State of the Union address, the economy was and still is, clearly, in decline. If we take an average of the past three years we are zooming along at approximately 2.3% growth!! That is an economy on fire!! Unless, of course, you are attempting to have a life and not simply work to pay taxes and purchase basic necessities. If we look at the latest chart for the first quarter of 2016 we see the “peddling fiction” of a declining economy continues. From Atlanta Federal Reserve
The next GDPNow update is Tuesday, April 19. Please see the “Release Dates” tab below for a full list of upcoming releases.
The green line in the above chart shows an economy barely doing any business what-so-ever and appears to be in free-fall with a last gasp in April 2016. If you compare the U.S. economy with China’s “failing”, “declining” or any of the other adjectives used by the mainstream media to remind us how poorly China’s economy is doing we can see just how bad it really is. From the looks of the chart below poor China is about create a global depression. My goodness!! It looks like China’s GDP has averaged just over 7% for the past 3 years!! They had better get their act together, otherwise, Mr. Obama may begin saying they are just “peddling fiction”. I don’t see one negative quarter listed for China. The same can not be said for the U.S. China is the manufacturer for the world. Their number one customer is Europe and their number two customer is the U.S.. If you own a manufacturing company, will call it China, and your top two customers are not ordering products along the same lines as they have been for the past several years, do you think that might impact your bottom line? Would it have any bearing on how well your company was performing? Once again, not an economist, but not an idiot either. If you can read and make out an image in a picture then you too may be peddling fiction if you believe your lying eyes and what the above charts have to offer. charts/TradingEconomics.com