China is stepping up its domestic stimulus efforts:
Meanwhile, the U.S. is increasingly unable to afford jack squat:
The end of this depression, whenever it comes, will reveal that China has emerged as the primary contender for the U.S.'s role as guarantor of global economic stability. I am prepared to eat those words if I am wrong.
Nota bene: Anthony J. Alfidi is long FXI (with covered calls) and short uncovered calls on SPY in anticipation of the role reversal mentioned immediately above.
Chinese Premier Wen Jiabao will today propose new steps to bolster the world’s third-biggest economy, adding to a 4 trillion yuan ($585 billion) spending plan.
(snip)
China will spend more on infrastructure and to boost manufacturing in addition to the stimulus package announced in November, Reuters reported, citing an unidentified official at the country’s top economic planning agency.
Meanwhile, the U.S. is increasingly unable to afford jack squat:
The U.S. economy “deteriorated further” in almost all corners of the country over the last two months as consumer spending slumped and manufacturing declined, the Federal Reserve said in its regional business survey.
The end of this depression, whenever it comes, will reveal that China has emerged as the primary contender for the U.S.'s role as guarantor of global economic stability. I am prepared to eat those words if I am wrong.
Nota bene: Anthony J. Alfidi is long FXI (with covered calls) and short uncovered calls on SPY in anticipation of the role reversal mentioned immediately above.
