Red Ponzi Update: Still Slouching Toward The Zero (Growth) Bound

The economy continues to slow down – that’s what Chinese producer and factory prices are telling us. As it does, food prices have gone off the charts. Other than total economic collapse, pork supply problems are the surest way to make China’s current situation feel unbearable….The size of the aggregate hog herd in China had been reduced by about a third in November 2019 when compared to November 2018. As a result, pork prices were up by 110.2%. As struggling Chinese families sought alternatives, beef prices had jumped by more than 22% (and lamb up 14%).