I quite agree with your comments on China. Just because China says that they have injected nearly 2 Billion Yuan into the economy, doesn't mean it has gone where it needs to. Take a look at some of U Tube videos of "China Observer" and "China Undercover".
Technically they havent injected anything. The $1.4 trillion program was announced in November has a five year pathway. And I haven’t seen anything by move the needle. All that was basically the equivalent of forward guidance.
They need something like $3 trillion in direct stimulus and a currency devaluation… it’s a lot worse than it looks.
Excellent article---one of your best! Two points I somewhat differ: no one to bail us out?---I thought that's what the Fed does (whether it should is another matter); and, living in Hawaii, I long adapted to the sandals (which we call slippahs), but I have a real problem with the sports coat.
Got my prospectors license after retirement.
I quite agree with your comments on China. Just because China says that they have injected nearly 2 Billion Yuan into the economy, doesn't mean it has gone where it needs to. Take a look at some of U Tube videos of "China Observer" and "China Undercover".
Technically they havent injected anything. The $1.4 trillion program was announced in November has a five year pathway. And I haven’t seen anything by move the needle. All that was basically the equivalent of forward guidance.
They need something like $3 trillion in direct stimulus and a currency devaluation… it’s a lot worse than it looks.
I know you said not to comment on such, but here's to a healthy (more important than wealthy) 2025 for you...
Excellent article---one of your best! Two points I somewhat differ: no one to bail us out?---I thought that's what the Fed does (whether it should is another matter); and, living in Hawaii, I long adapted to the sandals (which we call slippahs), but I have a real problem with the sports coat.
Inflation is a tax we didn't vote for. The Fed bails themselves and their friends out. We get stuck with the bill.
Happy New Year Mr Dunn!