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If all PMI numbers come in really bad, I’m expecting the DOW to go even higher. Embrace the madness. Up is down, black is white. Printing money good, gold bad. Debt is good, saving bad. Spend, spend dammit! Spend you fuckers! SPEND!!! The Koreans need to ship some useless shit over here or else this whole thing goes down the shitter. Spend, even if you have to borrow it. But remember: [...] The Global ‘Canary In The Coalmine’ Is Sick One of our most favorite economic indicators to follow is South Korean exports. It’s a favorite of Jim O’Neill. Goldman Sachs and UBS both literally refer to it as a “canary in the coalmine” for the economy. Korean trade data usually comes before the first trading session of the month in Asia, which makes it the first of the world’s major economic indicators to be released. Because Korea’s exports are heavily exposed to China and [...] Has Abenomics Stalled Out? One of the big stories of the last 6 months has been “Abenomics.” This is the moniker given to the economic regime being imposed by Japan’s new Prime Minister Shinzo Abe, who hopes to revive the country’s weak economy via fiscal stimulus, monetary stimulus, and even structural reforms. You can read a complete guide to it here. Anyway, in financial markets Abenomics has been greeted enthusiastically. The Nikkei has been a [...] South Korean exports is widely recognized as the most reliable leading global economic indicator.
It’s a favorite of Jim O’Neill. Goldman Sachs and UBS both literally refer to it as a “canary in the coalmine” for the economy. We recently learned that South Korean exports plunged 8.8 percent in July, which was much worse than the 3.7 percent decline expected by economists. Read more: http://www.businessinsider.com/ubs-economic-canary-in-the-coalmine-korean-exports-2012-8#ixzz22R1F4jrx We don’t normal cover North Korean trade data. But we thought the Q1 surge was worth mentioning.
According to China’s Ministry of Commerce (via Yonhap News), trade between China and North Korea reached an all-time high of $1.37 billion. Exports from North Korea to China jumped 40 percent to $568 million, while imports into North Korea jumped 40 percent to $800 million. businessinsider From Goldman Sachs Asset Management Chairman, Jim O’Neill On Friday in Paternoster Square outside our London offices, there was an Abba tribute band entertaining lunchtime workers in this gorgeous Summer sunshine we are enjoying. I ate my sandwich watching them. It was a beautiful distraction from the prevailing mood of the markets and the economic world. Of course, at the true Abba’s pomp in the late 1970’s, [...] |
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