Wednesday Readings

Filed Under (General, Linkfest) by Kristjan Velbri on 29-07-2009

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Yesterday, Vitaliy Katsenelson wrote an interesting guest post for The Big Picture, drawing attention to the Chinese GDP growth, or rather the lack of it.

Here is what we know: exports constitute about 35% of the Chinese economy and they dropped over 20% in June, while the Chinese economy (GDP) grew 8%. So the “X” is the growth rate of 65% of Chinese non-export economy.

0.35 x (-20%) + 0.65 x (X%) = 8%. If you were to solve for X you get 23%.

I highly recommend you read the entire piece: The Simple Math of Chinese Staggering growth.

The Coming Depression Blog gives some thought to the national debt of the United States:

The National Debt is now $11.6 trillion. The National Debt in 1913 was $2.9 billion. Therefore, the National Debt has gone up by 400,000% in 96 years.

Mark Hulbert from MarketWatch reports that “corporate insiders are more bearish than at any time in nearly two years. Corporate insiders have recently been selling their companies’ shares at a greater pace than at any time since the top of the bull market in the fall of 2007.”

In other news, Russia has banned travelers from taking their children with them, citing fears of swine flu. Previously, Russians were only banned from taking their children to the UK. Could this be a taste of things to come? It could very well be if swine flu keeps spreading at the same pace that it has so far. Just take a look at this table and compare the spread of the virus between May, June and July. The threat of a worldwide pandemic is now more immediate than ever.

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