Why do I have to know this? During the Cultural Revolution there were no imports and exports to go up or down by the year. There were no "China's Not Importing or Exporting Anything" headlines and nobody cared. In this interconnected world now we have to care about China's imports and exports and about Icelandic volcanoes.
Grudgingly reading two articles on this, an ill wind indeed bloweth from the East and it is already being felt in these parts. China's exports were down 4.4% in December compared to December 2017. In the world's second largest economy that's a helluva drop.
You know how in these things it's not only the results that count but whether they met "analysts expectations?" It's like the post-game commentary in sports. "Whoa, I didn't expect Clemson to beat Alabama that bad." The analysts set the point spread for their expectations, like Alabama was favored by 5.5. When Alabama LOST by 28, when China's economy contracts the house loses a lot of money. Well, Vegas had Chinese exports +3. In fact they lost by 4. That's "unexpected." Unexpected is bad on top of bad. Imports were even worse. The experts predicted GROWTH of 5%. Instead there was a "shock DROP" of 7.6%, like "Manchester City in Shock Loss to Crystal Palace."And so, stocks around the world are taking a beating today and in Amerika 2.0 too.
Now you know. You're welcome. Good morning.
Grudgingly reading two articles on this, an ill wind indeed bloweth from the East and it is already being felt in these parts. China's exports were down 4.4% in December compared to December 2017. In the world's second largest economy that's a helluva drop.
You know how in these things it's not only the results that count but whether they met "analysts expectations?" It's like the post-game commentary in sports. "Whoa, I didn't expect Clemson to beat Alabama that bad." The analysts set the point spread for their expectations, like Alabama was favored by 5.5. When Alabama LOST by 28, when China's economy contracts the house loses a lot of money. Well, Vegas had Chinese exports +3. In fact they lost by 4. That's "unexpected." Unexpected is bad on top of bad. Imports were even worse. The experts predicted GROWTH of 5%. Instead there was a "shock DROP" of 7.6%, like "Manchester City in Shock Loss to Crystal Palace."And so, stocks around the world are taking a beating today and in Amerika 2.0 too.
Now you know. You're welcome. Good morning.
