Turning to hard data the three components market participants tend to watch are: 1 investments, 2 consumption, and 3 exports.
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One thing to note is that the highly popular monthly time series for fixed assets investments FAI was not very reliable due to double-counting, strange treatments of land, etc. Now, if we steer our focus towards consumption, the quality of the retail sales data has also been very much in doubt as it obviously has not captured a shift in consumption towards education, health care, and travels.
In addition, the universal problem of capturing the high and rapidly increasing share of online retailers is almost certain to be a problem also for China as can be seen from, e. Despite, i. Just a couple of weeks ago, the IMF hiked its forecast for China in response to strong policy stimulus. This is also good news for profit growth, which has been abysmal over the past couple of years, in particular for private enterprises.
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How about trade, then? As I add the finishing touches to this text, financial markets are roiling after the release of weak trade balance data from China and increased tensions in US-China negotiations. After all, albeit from a primarily external perspective, the allure of China comes from the gigantic consumer market. I look forward to meeting up with a few of them shortly! You can watch my review of the Master below, or read a transcript here.
I was fortunate enough to see the Master twice in 70mm when it was in theaters and have revisited it a few times in the intervening years. Boogie Nights focuses on the San Fernando Valley porn industry with a cast of characters who live in a fantasy world and are trying to become stars on the fringes of society.
Magnolia deals with the traffic jam-like tangle of intersecting lives in the Valley, with several characters struggling with the pressures, regrets, and unfulfilled dreams of people who have been touched by the spotlight of show business. Even There Will Be Blood — with its tale of oil, family, religion, and greed — portrays a largely forgotten time when California was the biggest oil-producing state in the US , echoing the previous Gold Rush era when California was viewed as a wide-open place of seemingly limitless potential for the ambitious, hardworking, or ruthless.
The Master takes place at the end of World War II, a time when the country was attempting to enjoy their newfound peace and prosperity while also grappling with the horrors and trauma of the incomprehensible violence they had just witnessed. Into this time and landscape steps Freddie Quell, an unmanageable, rudderless, sexually obsessed sailor suffering from PTSD and the effects of childhood trauma, who self-medicates with seemingly improvised concoctions made from whatever potentially dangerous chemicals are nearby.
Paul Theroux - Slow Boat to China | Literary Review | Issue
But after seeing the movie a second time, I came away with a much different understanding of it. While many see Lancaster as simply a huckster, by the end of the film it seems that Lancaster himself has become a prisoner of the Cause — or, more accurately, his wife Peggy Amy Adams who seems to be the one really calling the shots. When Freddie and Lancaster meet for the last time, Lancaster is in a giant, largely empty room that serves as his office. It looks a bit like a chapel, making him seem quite grand as chapels and cathedrals are meant to while also showing how isolated he is.
Except, of course, for Peggy, who is sitting quietly in the shadows off to the side keeping a watchful eye over everything Lancaster does.
Before you continue...
I think Lancaster has a genuine love for Freddie. But more than that, I think Lancaster really likes Freddie as a person. These are all things Lancaster is not permitted to be, both as leader of the Cause or by Peggy, who forcefully keeps his sexual urges in check.
Here are the lyrics Lancaster sings:.
Get you and keep you in my arms evermore, Leave all your lovers weeping on the far away shore. Out on the briny with a moon big and shiny Melting your heart of stone. The song is obviously written from a romantic perspective, but I think Lancaster means it honestly. To really spend time together as friends, drinking buddies, father and son, as well as therapist and patient.
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