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2008-12-05 Home Front Economy

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Posted by Ebbineger Ebbolusing8960 2008-12-05 17:52|| || Front Page|| [3 views ] Top

#1 The current rumor is that the Chinese are so furious about US banks selling them bad securities while watching the US government bail themout, they will be devaluing their currency by the end of the year.

I think it's worry about the state of the Chinese economy more than fury at the US. They're in deep doo-doo and sinking.

Posted by Zhang Fei 2008-12-05 22:01|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-12-05 22:01|| Front Page Top

#2 This is a tyoical emerging market tactic: protect exports through currency manipulation. They pursue it in good times and bad.

The good news is that to make their policy effective the Chinese cannot sell dollars, which means they are stuck with their current paper and need to keep buying more with their export earnings.

Posted by DoDo 2008-12-05 22:10|| 2008-12-05 22:10|| Front Page Top

#3 HOld on a sec, I thought they were supposed to be angry at us if we didn't do the bailout? Now they're angry at us that we did?

Posted by Thing From Snowy Mountain 2008-12-05 22:10|| 2008-12-05 22:10|| Front Page Top

#4 HOld on a sec, I thought they were supposed to be angry at us if we didn't do the bailout? Now they're angry at us that we did?

I think Hu Jintao is worried about keeping his position at the top of the greasy pole. And the guys around him are eyeing his perks and prestige hungrily, while casting worried glances at the Chinese populace, which may (or may not) become less worshipful of the Communist Party if unemployment skyrockets, and the standard of living drops.

Posted by Zhang Fei 2008-12-05 22:30|| http://timurileng.blogspot.com]">[http://timurileng.blogspot.com] 2008-12-05 22:30|| Front Page Top

#5 It's a mad race to the bottom. Wonder who will lose first, thus win....

Posted by Alaska Paul 2008-12-05 23:53|| 2008-12-05 23:53|| Front Page Top

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