Tony Petroski

Why Krugman Is Wrong About the Yuan

Mr. Rein. You are right and Krugman is wrong.

From the article: "the Nobel Prize-winning New York Times columnist, who wrote on Nov. 15 that China severely undervalues its currency."

Forgive me. Peace Prize? Economics? Soccer.

For you who are scoffing at my put-down of Mr. Krugman, I must point out that the august body, the Nobel Committee, awarded my President the prize for peace. He, after all had....

Are you guys sure this Nobel Committee knows what they're doing?

Can China Sustain 8% Growth?

A good article by Mr. Harper.

I have a contact in the communist government who tells me that Chinese growth was actually 8.953%, not the 8.9% in reported in the press.

Post-Holiday Chinese Market: Five Key Factors, Part 3

From the article:

"The investors got some glimpses of 3Q earnings from the data released by State-owned Assets Supervision and Administration Commission of the State Council (SASAC) on September 19."

Yowser. Is this the model we wish to emulate? SASAC is actually SOASACSSC although I know SOASACSSC doesn't "sing" like SASAC does.

Good article Susan.

U.S. vs. China: Has Trade War Begun?

I have compassion for Mr. Nielson. Growing up reading the little red book and then forced to defend Chinese communism on the grounds that they do capitalism better than the great satan.

That's not an easy job.

Selling gold and silver, that's a living.

U.S.-China Trade Spat: Warning of Worse to Come?

From the article:

"This might not end well."

Well put.

The "dumping" of chickens reminds me of an old American political slogan. But since we are now Citizens of the World, what appears to be predatory trade activity is merely our attempt to put a chicken in every Chinese pot.

Free trade benefits those who trade. They don't have to be pushed into it. Governments attempt to block the trade and have done so at least since the Cultural Revolution.

Preview from Europe: Mid-Day Sell-Off

Mr. Mole: This is scintillating: "While CRH stated that trading conditions into the second half remain extremely difficult, it also points to a number of positives including more favourable Polish cement volumes..."

I watch the "Polish Cement Volumes, (PCV's) like some watch the Baltic Dry Index. I guess it's straight up from here.

Shanghai Composite: Materially Higher by Year-End?

Looking at the graphs above reminded me of something I first saw in a book by John Train, "Preserving Capital and making it Grow," (1983). The caption under a similar chart read "Swarming The Chinese are excited by gambling the way the Indians are by firewater. Here the Hong Kong market leaps 1000 percent in three years and collapses in the fourth."

By that reckoning, the Chinese market has 2 years to go and another 900%.

I apologize for the politically-incorrect language of Mr. Train as that was a different time and I too am a native American.

China and the U.S. Play Ping-Pong over Currency Concerns

Everyone knows the Chinese are better at this game, ping pong and manipulating currency.

China at the G8 (Or, What Happens When Your Banker Says No)

Warning me that China won't lend my government any more money is like warning me that the Visa people have decided to cut off my wife from any more borrowing.

Go ahead, make my day!

China's Well-Prepared; We're Not

The author: "Since we can't force our nation to become more far-sighted, all we can do is help you get rich by investing in resource-rich countries."

Yeah, gee...if we could only force the nation to be farsighted like those farsighted Chinese. My, how great things would be. If you screw up in farsighted China you get shot--that's forceful! Oh, you only get shot after you get a short, fair trial.

How did South Africa make their way into this conversation as an up-and-coming rich nation? Last I checked, they were still ruled by communist oligarchs.

Inflation Can Be Terrifying

Scratch the India short play, at least for a few days.

World Bank Report Reveals Gloomier Chinese Outlook

Huang Thomas: "So far they [Chinese Communists] are doing a 'descent' job." In english we would say: "Man, you ain't doing a decent job as dem countrymen of your'n are descending down da track tords da pit."

Opportunity to Sell Into China's Illusory Stimulus Package

I don;t understand how an economy growing at 8% a year, down from 12%, needs a "stimulus," nor how such a country can have stock values down 75% and more. Can we trust the word of the communists or not?