The Red Ponzi’s Flakey Q1: More State Stimulus=More GDP (And More Colossal Debt)

On an accumulated basis, according to China’s National Bureau of Statistics, FAI via state-owned firms rose 6.7% year-over-year January through March. That’s the highest accumulated growth rate since January-February 2018. It’s also noticeably greater than the middle of last year when government-directed FAI had pretty much stopped increasing.