Wall Street Spins Incredibly Bad Economic News As Effectively as Goebbels

Discussion in 'Economics' started by ByLoSellHi, Nov 16, 2009.

  1. ...The decline of the dollar and decisions in the U.S. not to raise interest rates have caused “huge” speculation in foreign exchange trading and seriously affected global asset prices, said Liu Mingkang, chairman of the China Banking Regulatory Commission.

    "The continuous depreciation in the dollar, and the U.S. government’s indication, that in order to resume growth and maintain public confidence, it basically won’t raise interest rates for the coming 12 to 18 months, has led to massive dollar arbitrage speculation,” he told reporters in Beijing today at the International Finance Forum. Liu said this has “seriously affected global asset prices, fueled speculation in stock and property markets, and created new, real and insurmountable risks to the recovery of the global economy, especially emerging-market economies.”

    8:30 Update: Well, we got our Retail Sales and woo-hoo on our futures bets as they were a bit disappointing. The headline number was a strong 1.4%, double expectations of 0.7%, but strip out autos and we fall to 0.2%, half the expected 0.4% move. Even worse, to those who are paying attention, is the 50% downward revision to September sales from -1.5% to -2.3% so, essentially, this whole monh’s gain is due to shoving Sept Auto Sales forward into October. Worse than Retail Sales is the Empire State Manufacturing Survey, which fell from 34.57 in October to 23.51 in the November survey. Employment Index fell to 1.3 vs. 10.4 prior, and new orders dove to 16.7 vs. 30.8 in October.

  2. The sooner people realize that this is a rigged game, the more money they will make.

    The great depression II is not going to happen. Wake up.

    Stop fighting the Fed. Stop fighting China. Billions can be created with the press of a few computer buttons.

    If everyone is bankrupt, then no one is bankrupt.
  3. That´s what the magic is all about ! Who cares about tomorrow ?
  4. I think that's what he meant.
  5. TheMan


    "If everyone is bankrupt, then no one is bankrupt."

    as crazy as that is, it is the truth.