The cheerleaders at CNBC get a dose of reality.
Down 185.42(1.13%) 2:59PM EST
Propaganda. China is expected to top 7% again, and the manufacturing is actually taking place on Chinese soil (as differentiated from U.S.-”based” manufacturing on Chinese soil).
The real concern is U.S. decline. The Canadian central bank, for example, made another currency war move against the U.S. yesterday, expecting to export more to the U.S. with a cheaper rate after the recent U.S. retail loss. It won’t happen, because American buying power is about to plunge even more for lack of sustainable revenues due to declining manufacturing on U.S. soil (not counting U.S.-”based” manufacturing on foreign soil).
The banksters have been propagandizing that the Chinese economy is crashing since 2007, BTW.
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http://freerepublic.com/focus/f-news/3114910/posts