Loading ...Theosebes Goodfellow
Whoa there, buckaroos! So everyone knows that China has been cooking the books as far a fair trading rate for the yuan. And now they cook it a little more (1.9%) and the world gets their knickers in a twist?
The Chinese, (like everyone else), is desperate to “re-ignite” they global economy which America has screwed by printing 12 Trillion dollars or so in the last 7 years. Now the Chinese know that a smidge under 2% “fire sale” isn’t going to reboot anything, (or at least we’d hope they know that a smidge under 2% fire sale isn’t going to reboot anything). I suspect that this is a trial ballon. I bet you that the next devaluation will be more on the order of 5 to 10%.
Then you can watch these other countries crap kittens.
Go long popcorn.