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Category Archives: National Audit Office

China Beige Book Warns Economic Slowdown Has Begun

When it comes to the global economy, few things matter as much as China, the trajectory of its economy and especially the pace and impulse of its credit creation, which is ironic because virtually all data coming out of China is fabricated and manipulated, and thoroughly untrustworthy, either on purpose or “by accident.” The latest […]

China’s Infrastructure Boom Heading For Rapid Slowdown In 2018

There have been signs since October’s Party Congress that China’s infrastructure boom was about to cool off as the leadership seeks to contain debt levels and focus on the quality not the quantity of growth. Subway building is one sector which has seen some high-profile project cancellations. In mid-November 2017, Caixin reported that China’s top […]

Data Fraud At Chinese Province Suggests Local GDP Numbers As Much As 20% “Overcooked”

One month ago, in delightful, if anticipated, confirmation that much if not all of China’s data has been cooked and fabricated as so many skeptics suspected, we reported that according to the People’s Daily, the rust-belt province of Liaoning had admitted to fabricating fiscal numbers from 2011 to 2014. The fabricated economic data was meant […]

Chinese Province Admits It Fabricated Economic Data For Three Years

While it will hardly come as a surprise to China watchers who have for years mocked China’s cooked “data”, overnight the state-run People’s Daily reported that the severely impacted by the commodity crunch of the past 2 years rust-belt province of Liaoning fabricated fiscal numbers from 2011 to 2014, raising fresh doubts about the accuracy […]

Auditor calls Bank of England regulation bill ‘unacceptable’

gata.org / By Ferdinando Giugliano via Financial Times / October 15, 2015 The head of Britain’s spending watchdog has attacked “unacceptable” government plans to increase transparency at the Bank of England, saying they created a false impression of greater accountability. Sir Amyas Morse, who leads the National Audit Office, was commenting to the Financial Times about a government […]