China News Is Scary, Add In Ukraine And The Fed: Major Trouble
Over the weekend, China reported an 18.1% drop in exports year-over-year. In addition, they saw an 18% drop in crude oil imports, month over month. Considering the Chinese government fakes their economic numbers more than the United States does, this is absolutely shocking. That type of slow down is epic and considering China is the second biggest economy in the world, it spells major trouble for all countries. If you add into the mix the fact that it is extremely likely Crimea will be part of Russia within a week and sanctions/stress will mount because of it, it amazes me the markets have not seen more selling today. Lastly, add in the fact that the most recent Non Farm Payrolls report came in better than expected at 175,000, any chance of the Federal Reserve not tapering another $10 billion just went out the window.