Wikinvest Wire

The Obama-Hu meeting

Tuesday, November 17, 2009

Spotted over at Jesse Felder's Posterous, this cartoon by John Sherffius speaks volumes about the respective trajectories of the U.S. and Chinese economies.

Stateside, the USA Today blares China slams U.S. Federal Reserve's low interest rates as more talk is heard in Asia about the U.S. central bank fostering asset bubbles and, perhaps, auguring a full scale currency crisis at some point.
IMAGE So far it's been a good day for the dollar, now up more than half a percent against other freely traded currencies and, no doubt, helping to keep the price of gold in check.

A stronger dollar no longer seems to cause the gold price to fall - it just stops it from rising...

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2 comments:

Anonymous said...

At least Obama isn't bowing.

Anonymous said...

That goofy printing is what prevented the US economy from thriving. The central bank discouraged saving. Saving is another term for capital formation. No capital formation, no improved productivity. The only thing the US could do without capital was to provide non exportable services to each other. The US now specializes in labor intensive services, and pays for them by borrowing goods from overseas.

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