9 Nines Posted March 16, 2020 Report Share Posted March 16, 2020 Industrial output fell by a much larger-than-expected 13.5% in January-February from the same period a year earlier, data from the National Bureau of Statistics (NBS) showed on Monday. https://www.reuters.com/article/us-china-economy-activity/chinas-economy-suffers-heavy-blow-as-epidemic-paralyses-activity-idUSKBN21307F Industrial output plunged 13.5% in January and February from a year earlier, retail sales fell 20.5%, and fixed-asset investment dropped 24.5%. “Based on the activity data, Bloomberg Economics’ nowcast model shows China’s GDP is tracking about -20% year on year in the first two months. This is an extraordinarily low reading, well below our 1.2% call for 1Q and lower-bound estimate of -4.3%, and even further behind the consensus 4% view.” Infrastructure investment, which was hit hard by restrictions on construction and large shortages of migrant workers, was down 30.3% from a year earlier in the first two months. That was despite local governments selling almost a trillion yuan ($143 billion) in bonds since the start of the year to pay for infrastructure projects. https://www.bloomberg.com/news/articles/2020-03-16/china-manufacturing-and-retail-contract-for-first-time-on-virus Link to post Share on other sites More sharing options...
Jamalisms Posted March 16, 2020 Report Share Posted March 16, 2020 The sky is definitely falling. Link to post Share on other sites More sharing options...
Starkiller Posted March 16, 2020 Report Share Posted March 16, 2020 It’s only temporary, but things are fully shutting down to quarantine Link to post Share on other sites More sharing options...
T-RAC Posted March 16, 2020 Report Share Posted March 16, 2020 Good to see Trump apologists like @Rolltide already moving from denial to acceptance. May as well get used to coming up with pithy President Biden insults for the next 4 years. Link to post Share on other sites More sharing options...
Jamalisms Posted March 16, 2020 Report Share Posted March 16, 2020 Actually, the effect of COVID19 on the Chinese economy is fascinating, not because it's impacting China, but because it's a preview of the impact we'll see worldwide. But I understand why a racist person might have trouble thinking that through on their own. There's a word for accusing others of your own faults. You should look it up, Rolltide. Link to post Share on other sites More sharing options...
begooode Posted March 16, 2020 Report Share Posted March 16, 2020 11 minutes ago, Jamalisms said: There's a word for accusing others of your own faults. Trumpism. Link to post Share on other sites More sharing options...
9 Nines Posted March 16, 2020 Author Report Share Posted March 16, 2020 27 minutes ago, Jamalisms said: Actually, the effect of COVID19 on the Chinese economy is fascinating, not because it's impacting China, but because it's a preview of the impact we'll see worldwide. But I understand why a racist person might have trouble thinking that through on their own. There's a word for accusing others of your own faults. You should look it up, Rolltide. I do not understand how economies recover from this. How do you reorganize most industries, which is what might be required to move forward after this. Link to post Share on other sites More sharing options...
Jamalisms Posted March 16, 2020 Report Share Posted March 16, 2020 5 minutes ago, 9 Nines said: I do not understand how economies recover from this. How do you reorganize most industries, which is what might be required to move forward after this. Restarting / rebuilding a world economy to the point that everything is setup to flow properly such that needs and capacity are clearly identified, well aligned and timely met ... that's a challenge. Immediate needs will likely differ from long term needs as well. Link to post Share on other sites More sharing options...
9 Nines Posted March 16, 2020 Author Report Share Posted March 16, 2020 Oil consumption/demand is falling through the floor. Link to post Share on other sites More sharing options...
Downtown Posted March 16, 2020 Report Share Posted March 16, 2020 5 minutes ago, 9 Nines said: “Global oil consumption is in free-fall, heading for the biggest annual contraction in history, as more countries introduce unprecedented measures to fight the coronavirus pandemic,” the Los Angeles Times reports. Still laughing when @Rolltide bragged to us all a couple of weeks ago about the Trump economy because gas was “cheap” Link to post Share on other sites More sharing options...
El Guapo Posted March 16, 2020 Report Share Posted March 16, 2020 I thought you guys said Obama was the reason the economy was so strong. I have not heard s peep from Barry recently. Link to post Share on other sites More sharing options...
titanruss Posted March 16, 2020 Report Share Posted March 16, 2020 9 minutes ago, El Guapo said: I thought you guys said Obama was the reason the economy was so strong. I have not heard s peep from Barry recently. wow that's desperate... Link to post Share on other sites More sharing options...
begooode Posted March 16, 2020 Report Share Posted March 16, 2020 12 minutes ago, El Guapo said: I thought you guys said Obama was the reason the economy was so strong. I have not heard s peep from Barry recently. Dude, you’re just randomly insinuating/spamming anything CuzDems with no regards to rationale or even a consistent theme. You sound a bit foolish, tbh. Link to post Share on other sites More sharing options...
Jamalisms Posted March 16, 2020 Report Share Posted March 16, 2020 Actually, Obama had been tweeting rational and sensible stuff about isolating yourself. But I doubt that was emphasized in the circle (jerk circles) Guapo runs in. Link to post Share on other sites More sharing options...
Jamalisms Posted March 16, 2020 Report Share Posted March 16, 2020 4 minutes ago, Rolltide said: I do not want Americans to die and do not want our economy to suck. I'm glad you agree that Trump minimizing the severity of this virus, not staffing the CDC properly and allowing for (forcing) a climate where they were wholly unprepared has been a severe detriment and a disqualifying level of incompetence. The severity of the impact will be far greater than if we took rational, early steps to test and socially distance a month ago. Link to post Share on other sites More sharing options...
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