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Editor's Note: Below is a chart (and excerpt) from today's Early Look written by Hedgeye CEO Keith McCullough.

CHART OF THE DAY: This China Chart Just Hit a 15-Year Low - zaa

When a stock market drops by 20% or more, we call that a crash. If you disagree with the verbiage, try it with your own money and let me know what it’s called. If you lose 20% of your money, you need to be up +25% (from that price) to get back to break-even. 

As of yesterday’s US stock market close, the Russell 2000 (-20.8% since AUG 31st) has joined the Chinese, South Korean, Italian, etc. stock market crashes of 2018. 

Here’s the non-fake-news update on that Global Economic Cycle:

CHINA
A) Chinese Retail Sales #slowed to +8.1% y/y in NOV – that’s a 15 YEAR low
B) Chinese Industrial Production #slowed to +5.4% y/y in NOV – that’s a 10 YEAR low
C) Xi will have his boys make up the headline GDP number for Q4, so who cares what he says it is 

CHART OF THE DAY: This China Chart Just Hit a 15-Year Low - CoD China Retail Sales