So doing,В you get a mere $17 trillion of GDP.Д®verywhere and always, however, a 5X total leverage ratio on an economy is a recipe for crushing deflation. That is, posit that somehow China manages to achieveВ tenВ more yearsВ of this quartersвЂ™В 6% nominal growth. AssumeВ 10 more years of 12% credit growth, for example,В and ChinaВ will haveВ $90 trillion of total debt or 50% more thanВ the already staggeringВ amount carried by the US economy.ДЄt the same time and given that ChinaвЂ™s nominal GDP growth is descending in Gartman fashion from the upperВ left to the lower right,В assume theВ very best outcome forВ nominal income.

In any event, why in the world would anyone in their right mind think this crucialВ chart can be extended toward the right axis much longer. ThatвЂ™sВ when he discovered a printing press in the basementВ of the PBOC and concluded thatВ communist party power might better be preserved by running these pressesВ red hotВ thanВ by MaoвЂ™s failed dictum that power descends from theВ white hotВ barrel of a gun. DengвЂ™s moment of enlightenment 25 years ago. Stated differently, ifВ the pattern of debt versus GDP shown below isВ pursued long enough, the worldвЂ™s greatest open air construction site will fall silent.В Everything which can be builtВ willВ have beenВ delivered any cash flow which can beВ encumbered with moreВ debt will have beenВ levered-up any pretense that financial institutions are solvent will have given way too soaring defaults and theВ Wall Street delusionВ that the primitive central planners of red capitalism had a iron grip on ChinaвЂ™s runaway expansion will have beenВ revealed as a snare and delusion.ДЄccordingly, the only thing that really counted in yesterdayвЂ™s release was thatВ credit is still growing at nearlyВ 12% orВ at 2X theВ 6.2% gain inВ nominal GDP.В And as is also evident in theВ chart,В this massive and aberrational debt versus income gap has been underway as far back as the eye can see. Apparently, no one has told its credit-happy rulers that printing precise amounts ofВ new GDP quarter after quarterВ by issuing credit at double the rate of nominal income growth will eventually result in the mother of all deflationary collapses. Instead, the evidenceВ that China is a slow-motion trainwreck lies in the very consistency of its Beijing-cooked numbers. ThatвЂ™s why the next crash will come as an even greater surprise than the Lehman meltdown, and will be far more brutal and uncontainable, as well. In truth, WallВ Street has become so intellectually addled from its addiction to central bank enabled gamblingВ that it no longer has a clue about what really matters.

ButВ that does not prevent most ofВ Wall Street from taking seriously each and everyВ word of ChinaвЂ™sВ self-evidentlyВ clueless statist rulersВ spoutingВ growth ratesВ to the decimal point. Namely, theВ true size of ChinaвЂ™s economy is unknowable to the nearest trillion or evenВ several trillions. You might find the irony exceptionally rich, but there is a larger message. ChinaвЂ™s #2 communistВ boss is out promoting the вЂњenterprenurial spiritвЂќ while emitting central planning propaganda to the decimal point. The better-than-expected result-a Wall Street Journal survey of 13 economists forecast a median 6.8% gain-is likely to renew debate over the accuracy of ChinaвЂ™s growth statisticsвЂ¦вЂ¦.Speaking at an event to promote entrepreneurism in Beijing on Monday, Premier Li Keqiang said вЂeven though it was 6.9%, it is still a growth rate of around 7%.вЂ™ Which is fine, you can like what you like.But no, the Wall Street Journal took it all very seriously, noting both the вЂњbeatвЂќ and ChinaвЂ™s claim that the вЂњmissвЂќ wasnвЂ™t a miss at all: I know at the end of the day though, this really is just an opinion based on the feel of a song. What do we need to throw away to overcome the demons? Take my lifeвЂ¦take my soulвЂ¦I donвЂ™t give a damn!Дevote it! Dedicate it! Offer up your hearts! Every sacrifice led to this moment Devote it! Dedicate it! Offer up your hearts! Carve out with your own hands a path to the future вЂњIt was a pointless death.вЂќ I wonвЂ™t let you say thatвЂ¦ Till weвЂ™re down to the last вЂ¦ If your looking for a song that embodies hope and determination, any of the other openings have more specific lyrics, like Jiyuu no Tsubasa's It's so vague you can read anything into it, making it seem like it's saying a lot when it's really saying nothing related to SnK. The lyrics themselves seem to be about a female angel dying (or facing death).

I feel like Hyde was a poor choice of singer and that Yoshiki can write better music, and especially better lyrics! Talking purely about the song, I've always felt a bit disappointed by it.

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