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Savings Experiment: Snow Removal
If you think China saw double-digit growth this year, you may also believe swine flu is spread via flying pigs.
The London-based Lombard Group, using energy data from the International Energy Agency -- which we can assume is a bit more accurate than the nonsense printed by the Chinese government -- shows GDP growth may have been just 2% in the first quarter rather than the reported 6.1%. And even that growth is being held up by government stimulus and state banks lending money to anyone and everyone to build capacity no one needs or to invest in Chinese equities no one can fairly value since Chinese accounting is as good as Chinese government data.
Lesson for investors in 2010: Although it's likely going to be a while before it happens, the China bubble is going to burst. Keep some powder dry, because this will be the best shorting opportunity since the financials blew up in 2008.
Next: Lie #11: The Palm Pre Is the Ultimate iPhone Killer
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