Submitted by Tyler Durden on 11/10/2011 09:17 -0500
Global Economy
Gross Domestic Product
Hong Kong
Trade Deficit
The miracle that is a global economy in which everyone is looking for export growth has been discussed here at length along with the simple math that makes it nonsense. Today's 'wonderfully' positive improvement in the trade deficit data for the US - which will be extrapolated into a spike in GDP growth and why the S&P should be at 1500 by month's end - does seem a little odd given all the uncertainty. Sure enough, thanks to Sean Corrigan of Diapason Securities, we have our answer. A massive spike in Exports to - drum roll please - Hong Kong!!A 76% rise in exports to this once glorious colony. The US trade deficit fell by $1.8bn thanks to a $2.5bn rise in exports (of which $2.03bn was to Hong Kong). Has Hong Kong become the channel-stuffing center of the world? It appears so since China's exports to Hong Kong have remained extremely high.
more with charts,,,,,,,,,,,,,,,,,,,,,,,,
http://www.zerohedge.com/news/bottomless-import-hail-mary-black-hole-uncovered-it-hong-kong?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
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WineSorbet
WineSorbet's picture
This is great news and it seems Europe was fixed overnight. BTFD! Seriously, I don't know how much longer I can pay attention before just wanting to pack it in and live in a jungle in South America.
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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