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.
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...