Who is telling the truth about China?
Baltimore — Who do you trust more, the Chinese government or the politically connected folks at the helm of Goldman Sachs?
For years, the Street has looked at any Chinese economic data with a weary eye. Without the checks and balances of a democratic government, Beijing had plenty of reasons to manipulate its growth figures.
Even though all signs point to a strong, stimulus-fueled recovery, most pundits refuse to believe the country’s tales of double-digit GDP growth.
But the folks at Goldman Sachs are taking the disbelief in a different direction. According to reports from the banking behemoth’s analysts, China likely grew by 13.1% last month.
It is a bold claim in a year when Chinese officials estimate domestic growth of a much more…
Capitalism is alive and well
Baltimore – (TFN): Hallelujah, the markets work! You have no idea how happy I was this morning when I opened the Wall Street Journal and found an article detailing Goldman Sachs shareholder anger at the recent bonus payouts.
Now, I don’t care who makes what. That’s between bosses and their worker bees. But I do get a little peeved when Uncle Sam tries to tell some worker he can’t get paid per his contract.
Before you go shouting about how Washington saved Wall Street and therefore we, as taxpayers, get a say over pay, let me ask you this. Does your mortgage company tell you what color to paint little Johnnie’s room? Does your car loan provider tell you how fast to…
Goldman Sachs – Defending the biggest kid on the block
Resident voice of reason at The Daily Reckoning, Bill Bonner takes a hard look at Goldman Sachs and replaces jealousy with admiration.
“We pick up sword and shield, ready to fight for Goldman, after reading the Financial Times. The FT has devoted a whole page to Goldman bashing. It’s time someone stood up to say a kind word for the firm.”
When Markets Collide Investment Strategies for the Age of Global Economic Change
When Markets Collide Investment Strategies for the Age of Global Economic Change
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Should we Fire the Fed?
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3 reasons to own China stocks now
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Will Rise In September Retail Sales Carry into Holidays?
Retail sales rose in September for the first time in 13 months, fueling hopes that the worst is behind retailers that head into the holiday season better prepared for a tough economic environment.
Three reports were unanimous that sales gained, but to different degrees: Market research firm Retail Metrics Inc. said sales rose 1.1% last month, Thomson Reuters tallied a rise of 0.6% and a tally by International Council of Shopping Centers (ICSC) and Goldman Sachs Group Inc. (NYSE: GS) showed a 0.1% increase.
“Let the retail recovery begin,” said Michael Niemira, chief economist at ICSC. “This is the start of a better performance and better fundamentals.”
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In Goldman vs. rest of the world, Goldman’s winning
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The Lehman of 2009
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