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How Badly Overstated is Chinese and US GDP?

Summary:
China's GDP unexpectedly cooled again, but to an amazing six percent. It's likely way overstated. What about the US? Unexpected Slowdown Similarly, CNBC reports China says its economy grew 6% in the third quarter, slower than expected Worse Than It Looks Funding Non-Productive Activity Pettis objects to China's GDP numbers based on "non-productive activity". By that measure, what about the US dropping bombs, fighting wars all over the word, keeping troops in Germany and Japan, and overpayment of government employees and their bloated pensions? And that's just for starters. Mike "Mish" Shedlock

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China's GDP unexpectedly cooled again, but to an amazing six percent. It's likely way overstated. What about the US?

Unexpected Slowdown

Similarly, CNBC reports China says its economy grew 6% in the third quarter, slower than expected

Worse Than It Looks

Funding Non-Productive Activity

Pettis objects to China's GDP numbers based on "non-productive activity".

By that measure, what about the US dropping bombs, fighting wars all over the word, keeping troops in Germany and Japan, and overpayment of government employees and their bloated pensions?

And that's just for starters.

Mike "Mish" Shedlock

Mike Shedlock
Mike Shedlock (Mish) is a registered investment advisor representative for SitkaPacific Capital Management (http://www.sitkapacific.com/). Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.

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