China shut 2000 companys (Metalman)

[Mega]

I need you to look at this:-
http://www.nytimes.com/2010/08/10/bu...n.html?_r=2&hp

Mike

[LargoWinch]

Re: China shut 2000 companys (Metalman)

I need you to look at this:-
http://www.nytimes.com/2010/08/10/bu...n.html?_r=2&hp

Mike

Mike, I am curious; what does MM and Chinese steel mills have in common?

[rabot10]

Re: China shut 2000 companys (Metalman)

Mike, I am curious; what does MM and Chinese steel mills have in common?

Steel - Metal - Get it

[LargoWinch]

Re: China shut 2000 companys (Metalman)

Steel - Metal - Get it

Oh. Wittey!

[ST]

Re: China shut 2000 companys (Metalman)

Overcapacity under the guise of 'energy efficiency'. Gotta love it.

[Mega]

Re: China shut 2000 companys (Metalman)

I see you didn't miss the point Steve, China is cooling down!
Mike

[GRG55]

Re: China shut 2000 companys (Metalman)

Overcapacity under the guise of 'energy efficiency'. Gotta love it.

Nah. They're just freeing up land for a higher value use...more apartments and condominiums that can be purchased and left empty...

[touchring]

Re: China shut 2000 companys (Metalman)

I need you to look at this:-
http://www.nytimes.com/2010/08/10/bu...n.html?_r=2&hp

Mike

Fact is China is blistering at >15% economic growth first half of 2010. They need to shut down production in order to keep closer to the official 10%.

[metalman]

Re: China shut 2000 companys (Metalman)

not my kind of metal... mega unless they're digging up...

[ST]

Re: China shut 2000 companys (Metalman)

Fact is China is blistering at >15% economic growth first half of 2010. They need to shut down production in order to keep closer to the official 10%.

Drive exports, no matter the cost, accumulate reserves of 4 to 5% of global GDP. Sound familiar? U.S. 20s, Japan 80s. Consumption as a share of GDP ratches down every year (46% in 2000 to a mind boggling low 36% in 2009), all policies at the cost of households.... subsidize autos and durables, rinse, repeat - foreign capital eats it up without thinking... until .. 15% deficit and guys like Chanos start betting on a yuan crash based on no more room for systemic reflation and big money starts to realize that foreign reserves cannot be used domestically, people start pointing out inconsistencies in the data like energy usage vs. gdp ("ooops, we won't make that mistake on the next report").

When this all hits the fan and everyone continues to push "nominal" policy, how do regular people in China and pretty much everywhere react to rising prices? What kinds of governments get voted in? Depressing.

[touchring]

Re: China shut 2000 companys (Metalman)

15% deficit and guys like Chanos start betting on a yuan crash based on no more room for systemic reflation and big money starts to realize that foreign reserves cannot be used domestically, people start pointing out inconsistencies in the data like energy usage vs. gdp ("ooops, we won't make that mistake on the next report").

When this all hits the fan and everyone continues to push "nominal" policy, how do regular people in China and pretty much everywhere react to rising prices? What kinds of governments get voted in? Depressing.

Energy usage? Do you really believe in any statistic that comes out of China?

http://www.thenational.ae/apps/pbcs....2/1135/weather