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AMEN.
Current Events-Chinese economic muscle
http://www.usatoday.com/story/money/markets/2015/08/13/market-calm/31610769/
After two days of turbulence caused by China's surprise intervention in currency markets, global markets flashed signs of stability Thursday as stocks around the globe rebounded after China slowed the pace of yuan depreciation and its central bank took steps to reassure markets.
So the markets feel "turbulence" after the Chinese tweak their economic approach just a bit?
Global investors are coming to the view that the U.S. Federal Reserve and the European Central Bank will be "more supportive" if the China shock becomes more severe.
Oh. How kind of them...how supportive will they be if China devalues the Yuan by 10%?
The selloff in risk assets, such as stocks, has eased today, spurring purchases of beaten down stocks that got crushed the past two days due to fears that the devaluation in China was an admission by Chinese officials that their economy was in dire straights.
LOL. Interesting angle. I have yet to hear that the Chinese economy is in trouble...or in "dire straights."
In fact, I find it hard to believe that an exporter as gigantic as China will ever have economic trouble except if it would facilitate a new world reserve currency.
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