gashouse gorilla

What China's Stock Market Implosion Means for Oil

>> China is very inefficient in converting energy use into GDP, the USA being 4x and Japan being 9x as efficient.

Recent implosions in structured finance should be a lesson to be skeptical about accounting and what it does or doesn't hide.

For instance, do those calculations back out the fictitious contributions from the USA's FIRE sector? If most US revenue (and profits) come from manufacturing that's been outsourced to China, how "efficient" are we really?

Sorry, but each time I read figures like these, I hear "we're #1" and visualize foam fingers on the people doing the calculations.