Central Perk

sâmbătă, 2 martie 2013

Mish's Global Economic Trend Analysis

China "Fully Prepared for Currency War" Says China's Central Bank Deputy Governor

Posted: 02 Mar 2013 08:23 AM PST

Given the world's central bankers are already in a currency war, a policy statement made by a deputy-governor of China's central bank should not come as a surprise (except for the fact it was publicly and bluntly stated).

Please consider China well-prepared for currency war: official.

China is fully prepared for a looming currency war should it, though "avoidable," really happen, said China's central bank deputy governor Yi Gang late Friday.

A currency war could be avoided, Yi said, if policymakers in major countries observed the consensus, reached at the recent G20 meeting, that monetary policy should primarily serve as a tool for domestic economy.

"China is fully prepared," Yi said. "In terms of both monetary policies and other mechanism arrangement, China will take into full account the quantitative easing policies implemented by central banks of foreign countries."

Nonsense Over Domestic Tools

Yi's statements raise as many questions as they answer. Was the big finger-point at Japan the US, or both?

And what does "fully prepared" mean other than print like mad to infinity? It can hardly mean anything else, but given the US and Japan are already conducting QE like mad (with no exit policy), is the statement an immediate warning?

Look at the fuzziness of Yi's statement "monetary policy should primarily serve as a tool for domestic economy." Isn't that exactly what Japan and the US claim right now?

I ask "what difference does it make?" Indeed, isn't the domestic economy always the reason (albeit severely misguided) for currency debasement?

Debasement turns into "war" as soon as multiple countries are involved.

And that of course is where things are already. Thus, the statements by Yi are perhaps an indication the already ongoing war is about to escalate.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Damn Cool Pics

The Bear Essentials of Safety #airnzbear [Video]

Posted: 01 Mar 2013 09:09 PM PST

Bear Grylls goes wild in Air New Zealand Bear essentials of safety video.

Shrek Wedding

Posted: 01 Mar 2013 08:52 PM PST

42 year old Paul Ballas and 30 year old Heidi Koksshal from the European island of Jersey, celebrated their big wedding day with a Shrek-themed wedding ceremony. He went of course as Shrek, and she as Fiona, and the entire party also did their best by choosing other characters from the movie and or characters from Disney-like films.

The couple got the idea for their nuptials from watching the movie with their son Leo. "The essence is that Shrek represents true love. It doesn't matter who you are or what you look like, if the love is there then that is what it is about," says Paul.

SEO Blog

If You Wish To Go Territorial, Make Use Of Some Effective Local SEO Services
Wikipedia’s Reliability In Question
Monitoring Your Brand’s Business Reputation Online – Some simple ways to find out what everyone else thinks

If You Wish To Go Territorial, Make Use Of Some Effective Local SEO Services

Posted: 02 Mar 2013 11:33 AM PST

If revenue generation is on your mind, then it's imperative to set your priorities right in terms of setting your SEO stats right. With the world witnessing rapid changes in terms of people's online behaviour, the importance of having an online business presence can be an ideal option. In most...
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Wikipedia’s Reliability In Question

Posted: 01 Mar 2013 08:24 PM PST

Wikipedia's main detractors are quick to point out that its credibility is tied to the people editing it. Creators of print encyclopedias have been notoriously outspoken about the lack of scholarly influence in many of the pages of Wikipedia. The idea that anyone from anywhere could make an edit on...
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Monitoring Your Brand’s Business Reputation Online – Some simple ways to find out what everyone else thinks

Posted: 01 Mar 2013 08:20 PM PST

Joan Jett didn’t give a damn about her reputation, but applying that attitude to your brand’s business reputation online could result in disastrous effects. Don't worry, though, there are simple ways to find out what people are saying behind your brand’s back online. Don’t let your brand be the odd...
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Weekly Address: Congress Must Compromise to Stop the Impact of the Sequester

Saturday, March 2, 2013

Weekly Address: Congress Must Compromise to Stop the Impact of the Sequester

In his weekly address, President Obama tells the American people that a series of harmful budget cuts—called the sequester—have taken effect because Congress failed to act.

Because Republicans in Congress refused to compromise to close tax loopholes for the wealthiest Americans, hundreds of thousands of Americans will lose their jobs or see their paycheck reduced, and middle class families will be hurt. Congress must join the President now to replace these cuts with a balanced approach that reduces our deficit while also making smart investments in areas that help our economy grow.

Watch this week's Weekly Address.