Decent Economic Data Crushing China Short Sellers - Forbes

Decent Economic Data Crushing China Short Sellers - Forbes: "China’s Purchasing Managers Index remained unchanged in December, which isn’t exactly a cause for wild celebration. December PMI held steady at 50.6.  Expectations were for PMI to come in over 51.  But, not too long ago, as in mid-summer here in the U.S., word on the street was that China was basically the next Europe. Banks were a disaster, the housing bubble is out of control and the domestic economy will never make up for losses in the export markets.

Yet, China is a different place. This is a command and control economy. Economic problems often get swept under the rug. Unpayable debt gets forgiven, or extended to infinity.

And while the government is indeed clamping down on the housing market still, the manufacturing economy is holding steady."

'via Blog this'

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Stocks rally on relief from 'fiscal cliff'

Stocks rally on relief from 'fiscal cliff': "Investors breathed a sigh of relief and pushed stocks sharply higher Wednesday after lawmakers agreed late Tuesday on a deal to avert the 'fiscal cliff' of tax increases and spending cuts.

At one point, the Dow Jones industrial average was up more than 270 points.

Without a deal, automatic spending cuts and tax hikes would have gone into effect, threatening the economy.

The deal doesn't end the battle between lawmakers, as Republicans have vowed to revisit more aggressive spending cuts as the need to boost the country's $16.4 tillion debt ceiling looms in February."

'via Blog this'

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