This is what I've been saying all along when the  doomsayers go psycho ballistic about China growth rate slowing-a natural phenomena in a maturing economy-since the economy has doubled in last 6 years, using the rule of 72 gives an average growth 12% (wasnt that high-was 11% for a while) but using the formula a growth rate of 6% now in a doubled economy would give the same growth in real terms as a 12% growth 6 years ago

same insane doom about tapering-if the USA economy truly grows, as the MPI indicates even for Europe lately, the real growth will far exceed the fantasy bandaid of 85 billion in bond purchases/month,yet the babies are continually crying about the possibility of losing even 1 cent of their extra candy-resulting in large knee jerk over reactions-the most predictable thing about the market-

the result of the axiom "the market is 80% emotion"-more at 90% emotion and 100% greed,everybody pushing everybody aside to get their extra 1 cent-reminds me of food riots when aid agency food trucks show up in the 3rd world,everybody killing each other to get their share (and i was starved my whole childhood since I wouldnt play along w the cult leader so I'm not being insensitive about lack of food) or the riots by women shoppers at sales, which if I had not survived many years of gang fights I might have feared for my life

"Asked whether Fortescue is coming late to the Chinese-led supercycle, Power points out (around the 1:30-mark) that the 7.5% growth rate everyone in the resource sector is worrying about is actually a "very strong number".

China's economy has doubled in the past six years and in terms of the size of the economy today's rate equates to the 14% – 15% back when Fortescue broke ground on its first mine, Power explains.

In short, Power is telling everybody talking about hard landings and kvetching about the lowest Chinese growth rate in decades to learn to stop worrying and love 7.5%."