Today China devalued their currency by 2%, which is actually 3% less than the rumor. This, of course, is being grossly exaggerated in the media, by morons in funny costumes. Although the Chinese lack the tact and style that is abundant in a Dr. Benjamin Bernanke, their goals are the same. This is their version of QE, a devaluation of their currency in order to help their exporters bank a little more coin.
I guess what people are really scared about is this confirms what we’ve already known: China is slowing and their economy sucks.
China’s economy sucks because it’s wrought with fraud and corruption, men in hanfus selling plastic rice to unsuspecting indigents.
What does this mean for us?
It’s validation of a global growth story in flames, which is bad for everything but domestic names. By now you shouldn’t own many stocks that possess a foreign flare anyhow, unless of course you’re a god damned idiot.
Avoid the celestial bullshit and stick to companies who conduct business under the auspices of the Federal Reserve.
I am going to wait another 30 minutes before placing any trades, in order to let the sellers exhaust themselves.
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fwiw – getting a “slim application error” in PPT
Fixed
merci
I have been spending the last 10 minutes trying to figure out if plastic rice would be cheaper to produce than real rice.
http://wereblog.com/fake-rice-from-china
Haha. The potatoes were the missing variable. Damn Chinese. I got in a tuk tuk in Beijing the driver stopped went through an alley where he had friends. Took like 50 bucks from me. I almost fought them but then realized they might kill me for my 50 bucks or worse I end up in a commie jail somehow.
At this moment, it is harder to see the logic for a September rate hike.
The battle of the Ponzis is in full swing
China fascinates me. We’re in a relationship with someone who literally doesn’t give a fuck about us. They lie, cheat, steal, and would murder us if given a half decent chance.
Buy WYNN and LVS. We will get some of our money back from them through their addiction to baccarat
Stocks headed to zero. War imminent.
You have a tiny penis
No I don’t. Totally average.
Domestic retail pharma have had a strong pimp hand for several years now.
WAG RAD CVS DPLO ESRX
The rinky dink leaders of China may as well scramble to the nearest roof top and scream they are in trouble.
When you consider how very important it is for them, egotistically speaking, to have the appearance of;
A. being in control of all things, and,
B. looking like they are THE major player in the world…..
you realize quickly that they would never have done this unless the wheels were about to come completely off.
Look for more devaluation in the next quarter.