It is not that you are politically incorrect but rather entirely impolite and rather boring. Droning, on and on, and not adressing those issues which fit squarely withing your contrived agenda makes you a small annoyance. At least you are somewhat more respectful than on the China Daily board, “Flotsam” “Jetsam”.

An unemployed software programmer from the UK, psychologically damaged from some obviously rude natives, with far too much time on their hands. Rather would we talk of the blocks upon blocks of high-end housing in coastal China sitting empty, asset price imbalances in country, and the mass wasteful expropriation of Chinese peasant savings to encourage stability in a mostly unstable Chinese future. Or should we talk about the growth of inter-Asian trade, mostly a factor of MNC supply chains for export to the West.

As Brad said previously nationalism will/can/could work both ways.

Blame a government and institutions that I myself am not particularly fond of, but do try to moderate the ugly banter.

Treasury Secretary Paulson trashes the Chinese, praises India
http://money.cnn.com/2007/10/26/magazines/fortune/easton_treasury.fortune/index.htm

The biased US media echoing the Washington Consensus loves to praise democratic India and bash socialist Chinese. Anyone who has visited both countries knows otherwise. Infrastructure even in remote regions of China is today light years ahead of India. Whereas starvation is no longer a serious problem in China, over 70% of Indian children face malnutrition and illiteracy. By contrast, even in remote Tibet province, over 95% of children are literate with highways and telecommunications reaching every village today. While India does excel in technology services, it only employs a very small sliver of highly educated workers. Indian society is highly fractured with its caste and religious divisions integrated into its cultural values. LOL to Hank Paulson and the Bush Administration if they think India will be economically powerful enough to challenge China’s Industrial, Technological, and Military firepower. Please inform Hank Paulson not to even bother travel to China in December.

…”As the Bank of England warned, the Super-Siv should not be used to prop up fictitious valuations.

“It stinks, as does the Treasury’s sponsorship of the scheme. It seems designed to prevent price discovery.”" says Bernard Connolly, global strategist for Banque AIG.

Connolly says it resembles the slippery practices at the start of the Bear Stearns debacle, when creditors quickly abandoned attempts to force CDO sales by the Bear Stearns hedge funds as soon as they realized that prices were collapsing – exposing the awful truth that hundreds of billions were falsely valued on books.

Nauseating though Paulson’s MLEV — `Master Liquidity Enhancement Conduit’ – may be, it probably has to be done.

Connolly says the Fed-led pack of central banks have made such a mess of capitalism by blowing credit bubbles (with low rates in the late 1990s and 2003-2006) that they now have no alternative other than to relaunch the “Ponzi Scheme”, or risk depression.

This will have political consequences, of course. “The looming threat on the horizon, or just over it, is that the socialization of risk will be accompanied, in many countries, by the socialization of wealth,” he said.

Indeed. The investors now baying for bail-outs had better be careful what they wish for. Democracy will have its way of making them pay. One recalls the 98pc tax rate on dividends in Britain in the late 1970s. Haircut now, or haircut later.

In any case, the Paulson Super-Siv has failed to calm the horses. “This rescue has back-fired. The central banks don’t want anything to do with it. There is a fear that the big four US banks are trying to hide their debts,” said Hans Redeker, currency chief at BNP Paribas.

The DOW is down 500 points or so since peaking in early October, and it looks wobbly.

Even so, equities have not begun to reflect the reality that the 2006-2007 credit bubble has popped and cannot be easily reflated at a time of stubborn, lingering inflation. Spare me the mantra that the “fundamentals” are sound. Credit is the ultimate fundamental.

Woe betide Wall Street if the Fed fails to slash rates dramatically over the Winter, starting on October 31.

Woe betide the dollar if it does.”

Posted by Ambrose Evans-Pritchard on 25 Oct 2007 at 12:36

In protest of Helicopter Bernanke’s deliberate policy of devaluating and inflating away the monetary value of the US Dollar, I strongly advise any foreign investor to immediately dump their holding of US Dollars. Any already incurred losses from US Dollar devaluation will significantly worsen under the grossly irresponsible monetary policies of the Federal Reserve and US Treasury Department. There is absolutely no prospect for any long term rebound in the US Dollar with massive US deficits stretching to the horizon. Plus if you are infuriated with the Bush Administration’s Neo-colonial military policy of conquest and plunder of Iraqi oil – the world’s 2nd largest conventional oil reserves, dumping the US Dollar will only make it more financially difficult to finance what can best be described as a war crime against humanity with over 1 million dead Iraqi citizens and over 2 million refugees.

Absolutely, dovish FED will continue no inflation spin. No only, he will not do anything to contain potential hyperinflation. he will cut rate to encourage growth of everything except dollar. There is reason why FED is called super dove, that is they embrace inflation not fighting inflation. It is time to give up on hope that FED will change around fighting inflation.

I think now is the time we’ll start seeing more SWF buying of US firms and hence the US and the dollar will continue to receive investment. It appears we are following the UK where everything is for sale. This is a logical outcome to massive pools of dollars that are depreciating. Possibly, also, for less than credit worthy borrowers who will not be able to refinance with anyone else.