The Chinese government fudging its statistics? Perish the thought? The Wall Street Journal kowtowing to the Chinese government? Perish the thought. From Tyler Durden at zerohedge.com:
Last night, when China reported a trifecta of better than expected data, coming at just the wrong time when everyone was hoping for even more PBOC easing and government intervention to bolster the rigged (by now nobody doubts there no longer is a Chinese stock market but merely yet another “policy tool”) market’s upward trajectory.
Ironically, none other than the Chinese economic data aggregator and reporter, the NBS, essentially confirmed the data is fabricated when it said, and we quote:
CHINA’S GDP ‘NOT OVERESTIMATED’, NBS SHENG SAYS
Because there is nothing quite like an official denial to confirm what everyone has known for years.
But that was not what caught our attention in the overnight data, and its broad coverage.
What did was the original WSJ summary report on the Chinese data, which contained the following rare admission of just how rigged not only China’s stocks are, but its entire economic reporting:
To continue reading: WSJ Scrubs Quote on Chinese Data
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