China Likes It Hot

Friday, March 12, 2010 , , , 3 Comments

Not that there's anything wrong with that necessarily.

Business Week:

China’s accelerating inflation has started to erode household savings, threatening to spur purchases of property and stocks and fuel asset-price pressures.

Consumer prices rose a more-than-forecast 2.7 percent in February, the most in 16 months, the statistics bureau said in Beijing yesterday. The increase means the rate exceeds the one- year deposit rate of 2.25 percent.

So-called negative real rates skew incentives to spending just as China’s economy is already accelerating -- reports this week showed exports rose, industrial production accelerated and new loans exceeded forecasts. The central bank may raise interest rates within the next three weeks, Standard Chartered Bank Plc, Nomura Holdings Inc. and Royal Bank of Canada said.

Hey China, not only should you knock that off and unpeg from the dollar, Obama is kind of pissed that you price your crappy lead-tainted exports so cheaply, can you kindly knock that off?

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.


Anonymous said...

offshoring inflation??? could it be their turn now???? how'd you like to have to compete there in an inflationary environment??? - 2 billion of your closest friends all competing for goods that are rapidly escalating in price. talk about dog eat dog.... wait a minute, they eat dogs there so.... what, talk about panda eat panda???? welcome to hell my ChiCom friends. in the end, it's just money, right?


Anonymous said...

your turn to run the gauntlet assholes

from the article: Wen Jiabao, the moneyman for the Chinese government was ranked 16th for supplying the U.S. government with tons of cheap credit, "the crack cocaine of this crisis."

former Treasury head Snow is probably laughing his ass off

Anonymous said...