I'm less worried about China's censorship than I am about this:
Dec. 17 (Bloomberg) -- The dollar fell to a 13-year low against the yen and the weakest versus the euro in 11 weeks after the Federal Reserve cut its target interest rate to the lowest among the world’s industrialized nations.
The U.S. currency also declined after the central bank said it will expand purchases of debt securities to fight the recession. The yen remained higher after Japan’s finance minister said he is ready to take steps in the currency market. The British pound was near the weakest on record against the euro before the Bank of England releases minutes from its Dec. 4 meeting, when policy makers cut borrowing costs to the lowest level since 1951.
The dollar fell to 88.24 yen, the lowest since August 1995, before trading at 88.67 yen as of 7:48 a.m. in London from 89.05 yen late yesterday in New York. Against the euro, the dollar declined to $1.4051 from $1.4002 yesterday, after touching $1.4192, the weakest level since Sept. 30. The euro was at 124.57 yen from 124.71 yen.
In a few words, don't expect your consumer dollar to go as far anymore while the banking industry and institutional investors rake in the dollars the Fed is printing up for them at the low, low rate of 0%. And, don't expect the bankers to be offering YOU any loans either. Even Chrysler is considering cutting off loans for its dealers, which should pretty much eliminate quite a few of them, too. Maybe they'll have a buy direct from the factory sale later on? Cash only, of course.
Clive
· 11 months ago
Oh, I live in the "other" China, the one that has democracy and free media, but the KMT under President Ma, is working hard to make sure the "other" China is a lot like the one that was built on the death of millions by Mao.
Indigo
· 11 months ago
China. Freedom of religion. Human Rights. Olympics. That combination didn't make sense but the International Olympic Committee demanded the world to belive it anyhow. Now the times are right to abolish the Olympics. They are no longer olympian.
djny10003
· 11 months ago
I was in China last summer during the Olympics. I could never access the BBC website, could occasionally get the CNN website, but could ALWAYS access the Fox News website. I think it's because Rupert Murdoch has a deal not to criticize the Communist government. He only supports free speech when it makes him money.
djny10003
· 11 months ago
I forgot to mention; I could also never access Americablog the entire time I was in China.
All Comments
http://news.bbc.co.uk/2/hi/asia-pacific/7786985...
Dec. 17 (Bloomberg) -- The dollar fell to a 13-year low against the yen and the weakest versus the euro in 11 weeks after the Federal Reserve cut its target interest rate to the lowest among the world’s industrialized nations.
The U.S. currency also declined after the central bank said it will expand purchases of debt securities to fight the recession. The yen remained higher after Japan’s finance minister said he is ready to take steps in the currency market. The British pound was near the weakest on record against the euro before the Bank of England releases minutes from its Dec. 4 meeting, when policy makers cut borrowing costs to the lowest level since 1951.
The dollar fell to 88.24 yen, the lowest since August 1995, before trading at 88.67 yen as of 7:48 a.m. in London from 89.05 yen late yesterday in New York. Against the euro, the dollar declined to $1.4051 from $1.4002 yesterday, after touching $1.4192, the weakest level since Sept. 30. The euro was at 124.57 yen from 124.71 yen.
In a few words, don't expect your consumer dollar to go as far anymore while the banking industry and institutional investors rake in the dollars the Fed is printing up for them at the low, low rate of 0%. And, don't expect the bankers to be offering YOU any loans either. Even Chrysler is considering cutting off loans for its dealers, which should pretty much eliminate quite a few of them, too. Maybe they'll have a buy direct from the factory sale later on? Cash only, of course.
That combination didn't make sense but the International Olympic Committee demanded the world to belive it anyhow. Now the times are right to abolish the Olympics. They are no longer olympian.