USD Dollar Plunge, This says China doesnt believe USA growth (GDP)

D

Digs

The GDP was 3.9% with 0.8% inflation, growing economies have increases in interest rates, not falling rates.

So maybe the GDP wasnt, real because maybe inflation is 5%, so

GDP = 3.9 add back 0.8 deduct 5.0, ooops negative GDP...


So china is tired of waiting for the growth story to be REAL.

Ben is on the phone as I write this saying sorry to Peking, please dont dump the USD !!!
 
Quote from Digs:

The GDP was 3.9% with 0.8% inflation, growing economies have increases in interest rates, not falling rates.

So maybe the GDP wasnt, real because maybe inflation is 5%, so

GDP = 3.9 add back 0.8 deduct 5.0, ooops negative GDP...


So china is tired of waiting for the growth story to be REAL.

Ben is on the phone as I write this saying sorry to Peking, please dont dump the USD !!!
More...

It's worse than that: looks like a top Chinese official says they're pulling out of the dollar:

http://www.marketwatch.com/news/sto...x?guid={49785919-0D1E-4E6A-BF51-D1DD1D2A874E}

Cheng Siwei, vice chairman of the Standing Committee of the National People's Congress, was quoted by wire services as saying that China should shift more of its $1.43 trillion of currency reserves into "stronger currencies," such as the euro, to offset "weak" currencies like the dollar.

Let the games begin...
 
Utto ohh,

quick turn to CNBC and watch Crudlow (Lawrence Kudlow) talk up what's good about america (notice small "A", given how devalued we have become)

better have him shout down any reasonable economist talking about "real data" instead of his polyana data...

utt ohhh,,

quick,

turn to CNBC

its rosey over there....
 
and after it gets to 70 it will fall to 50.

Around about there they will realize that maybe it wasn't such a good thing after all.
 
Quote from empee:

what? According to the media, a weak dollar is good for us !!
More...
Spent a couple of weeks in France in September, and a weak dollar didn't feel good at all. :eek:
 
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