If “Everything’s Awesome” Why Did Aussie CapEx Just Collapse By The Most In Its 30 Year History
by Tyler Durden
ZeroHedge.com
11/25/2015
Day after day, the ‘stability’ in the stock “markets” (specifically in AsiaPac) is posited as ‘proof’ that China is ‘fixed’, the worst is over in EMs, The Fed can raise rates, and massive monetray policy manipulation of market signals had no mal-investment consequences. Well all of that utter crap just got obliterated as China’s right-hand-man in the credit-fueled commodity boom bust – Australia – just saw its business capital expenditure collapse 20% YoY – the biggest drop ever, accelerating the crash in business spending to 11 quarters. As Goldman warns, this exposes significant downside risk to any forecast for GDP recovery in 2016.
The Rest…HERE
