Chinese Predictability
Courtesy of Joshua M Brown
Quick tidbit on China from Eric Peters's wknd notes:
Premier Li made a promise. To offer markets “stable predictability.” Naturally, China’s dictators love stability. Predictability. After all, they’re human. And want what they can’t have. Anyhow, housing prices rose in 69 of 70 Chinese cities, threatening social stability. No surprise. You see, there aren’t enough women in China. And the best way to attract one is to have a couple condo keys bulging in your blue jeans. Despite plunging exports, Red GDP rose 7.5%. Predictable. Always is. Naturally, their stock market celebrated Chinese stability, hovering near 4yr lows, just 47% above 1992 highs, despite a 21yr 1,800% rise in GDP.
Now that's an incredible statistic.
Picture from Tom Patterson of Cycle Editing.
