The stats I am following are still not looking good. Apparently stimulus cannot in the long run change reality. Oh, where to start. Let's start with the Baltic Dry Index. Seems like a dry subject to start with but it is telling. This is an index tied to the cost of shipping commodities. Now rumor has it that China bought signifcant amounts of many commodities during the recent recession to take advantage of the pricing. Apparently, they are done:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOkYkh3CsUFg

http://www.nakedcapitalism.com/2009/08/baltic-dry-index-down-17-for-week-worst.html

I would like to post more but I am swamped at work. I highly recommend the posts by Graham Summers at Seeking Alpha, who had some nice pieces w0rth reading this week

Disclosures: Nono