So now we know just how powerful China has become. The simple statement by them declaring a stable Yuan was enough for Japan to show a 7.5% rebound and right now Europe is on a steady roll to recover 3% tonight.
Too bad we have to wait until Tuesday to see how the idiots on Wall Street take it. No doubt, the headlines will read all is well and let’s carry on.
Don’t be fooled. Commodities are down, the dollar is crap, shipping is crap…I’m using the word “crap” here…because now China has the ball out in public, and next time they call “crap” the world is going to ask, “How much would you like, sir?”
The good news is they are calling for the RV and now the PTB have to take it seriously. They just got trounced. Maybe a full on crash has been avoided. The next few days will tell.
