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DOW: Treading water
Gold: $757.20 spot - falling
Oil: 84.96 spot - falling
Euro: $1.43 - rising
Mortgages: 5.94% - falling
News: Paulson tries to scare China at G7 bubble economies "Halloween party"
Paulson: Chinese Recalls Causing Fear
"Treasury Secretary Henry Paulson said Tuesday that the recalls of tainted Chinese products were causing fear among U.S. consumers. He called on China to take bold moves to address that and other economic problems facing the two countries."
Paulson is trying to browbeat the Chinese into going along with the latest unofficial Weak Dollar Policy by threatening to let slip the Congressional dogs of protectionist war. This worked with Japan for decades. But China is not Japan. The US will wind up on the losing side of the battle.
If left unchecked, this may come down as the biggest miscalculation by a US government in generations.
Boo!
Gold: $757.20 spot - falling
Oil: 84.96 spot - falling
Euro: $1.43 - rising
Mortgages: 5.94% - falling
News: Paulson tries to scare China at G7 bubble economies "Halloween party"
Paulson: Chinese Recalls Causing Fear
"Treasury Secretary Henry Paulson said Tuesday that the recalls of tainted Chinese products were causing fear among U.S. consumers. He called on China to take bold moves to address that and other economic problems facing the two countries."
Paulson is trying to browbeat the Chinese into going along with the latest unofficial Weak Dollar Policy by threatening to let slip the Congressional dogs of protectionist war. This worked with Japan for decades. But China is not Japan. The US will wind up on the losing side of the battle.
If left unchecked, this may come down as the biggest miscalculation by a US government in generations.
Boo!
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