Turkey & Trains

After the poor overnight economic data, markets are quite tame as Canadians enjoy their Thanksgiving Day.

The big news of the slow day:  “The World Bank cut its economic growth forecasts for the East Asia and Pacific region on Monday and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast.”  Reuters

China unlikely to ease monetary controls at China Times.  But fiscal policy is more important in driving growth.  The scale of the infrastructure projects still amaze me (China Times):

“China on Monday showcased the world’s first alpine high-speed rail line, which threads through the country’s three northeastern provinces.

A test train departed from Harbin West Station, located in the capital of Heilongjiang province, on Monday morning for Dalian, a port city in Liaoning Province.

With a trial speed averaging 300 km per hour, the train completed the 921-kilometer journey in about four hours…

The rail line, featuring 24 stations, is expected to go into normal operation by the end of the year.”

Leader FCX chart at Kimble Charting.

“What we have is a typical post-credit crisis recovery. Sub-par GDP, mediocre jobs recovery.”  Ritholtz  What if the global financial crisis is permanent?  Naked Capitalism

Most interesting read from the weekend:  The Atlantic.