Congress will negotiate its final spending allocations behind closed doors. The lobbyists for the major sectors mentioned in the article pretty much know what they'll get, so there won't be many surprises. They don't know that pork spending sprees can't continue forever. Uncle Sam will have a hard time doling out research grants and child care subsidies after hyperinflation begins. Meanwhile, let the catfights begin.
China is trying very hard to prevent a run on the yuan. Note the discrepancy of over 300 basis points between the opening quotes on seven-day repos and that rate's mid-morning weighted average. The PBOC is not injecting enough liquidity into the Chinese banking system to stop the rate from rising. If real estate prices collapse, so will the shadow banking system, and then the run on the yuan will become very real. I'm so glad I am no longer exposed to China in my portfolio.
The IMF is bullish on the US's prospects for growth next year. It is no coincidence that Mme. Lagarde said this very close to the FOMC's taper announcement. Central bankers and monetary authorities coordinate their actions and announcements to foster stability. The IMF, as part of the European troika lending to the crippled PIIGS, knows darn well what the Fed's support means to the ECB. I don't think she's realistic about the US's prospects but I'm one of the few analysts who lives in the real world. She needs to know that corporate earnings are still at twice their historic norm as a portion of GDP, and when they revert to mean they'll take equities down with them.
Alrighty, then. There's your fix of LOL pic sarcasm. Expect more lulz now that I have a collection of my own meme photos to use.