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ISSUES....
Inside, confidential and off the record
Growing like a weed
ON NOT DOING THE ELECTRIC SLIDE: Recent reports out of China tell us a story
about the economic conditions there that run contrary to what some of the well known hedge fund managers who are aggressively short of China would have us
believe. Chinese demand for electricity was, at the end of January, 40% higher this year than last and although the figures can be… and probably should be… taken with a grain of trading salt, this is strong enough to have our interest. Power demand is rather like the demand for shipping, and/or the miles of trucks driven, or the demand for corrugated cardboard boxes: it is a very solid, well based, simple yet elegant representation of what is going on within an economy. If electricity demand is rising, economic activity in China is not doing the electric slide downward, but is instead moving “from the lower left to the upper right” on the charts… and in this instance, impressively so.
- Dennis Gartman/ The Gartman Letter 02/23 / 2010
- For more on interesting comments, you can subscribe to The Gartman Letter by contacting
ISSUES.... 02/24/2010 / - Send Us Your Issues
ISSUES.... Inside, confidential and off the record
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