ECONOMY: the Chinese question
The week ends with a sharp contraction of U.S. consumers, whose retail sales in April, not only were lower than expected, but in real terms are now in decline dry. Of course, now the sirens are games designed to throw water on the fire, and launched the term Mapril to say that since there had been some disturbances (Easter holidays) on the data of April, what counts is the sum of March (revised slightly upward) and April. But even so, in real terms, the deceleration is indisputable, even more so when one considers that in the meantime spread consumer loans. In short, the iperindebitato American consumer, despite still being drugged by easy credit, begin to suffer from the housing crisis, while the gas continues to be the highest. Nevertheless, foreign imports continue to grow at rates well in excess of exports, with the result that the trade deficit in March compared to February increased by almost 10% to 63 billion share.
E 'is therefore likely that the GDP in the first quarter is revised downwards from 1, 3% of the first estimate, not only because of the increased deficit, but also for stocks declining. And the data on the second quarter, which last week had seemed better start after this flessone consumption back into question, and whether consumers will continue the downward trend in late July could get the news that the U.S. GDP is located near the 0%.
The week ends with a sharp contraction of U.S. consumers, whose retail sales in April, not only were lower than expected, but in real terms are now in decline dry. Of course, now the sirens are games designed to throw water on the fire, and launched the term Mapril to say that since there had been some disturbances (Easter holidays) on the data of April, what counts is the sum of March (revised slightly upward) and April. But even so, in real terms, the deceleration is indisputable, even more so when one considers that in the meantime spread consumer loans. In short, the iperindebitato American consumer, despite still being drugged by easy credit, begin to suffer from the housing crisis, while the gas continues to be the highest. Nevertheless, foreign imports continue to grow at rates well in excess of exports, with the result that the trade deficit in March compared to February increased by almost 10% to 63 billion share.
E 'is therefore likely that the GDP in the first quarter is revised downwards from 1, 3% of the first estimate, not only because of the increased deficit, but also for stocks declining. And the data on the second quarter, which last week had seemed better start after this flessone consumption back into question, and whether consumers will continue the downward trend in late July could get the news that the U.S. GDP is located near the 0%.
This week has re-emerged in the middle of the Chinese question. The yaun has gained on the dollar, and we expect a rate hike in China, after the nth data further increase the trade surplus and domestic inflation, which march very well, apart from the super-bubble stock. All in anticipation of the end of month the American delegation, particularly sensitive after the recent protectionist moves.
Several times I wrote that the degeneration in global liquidity could end up being just that China wanted. Each time, however, I have concluded that at least until the Olympics of 2008 can not see what could convince the Chinese to do so, having created a perverse Nash Equilibrium.
Well, the latest data on food inflation in China, opened a window of opportunity: in fact it is conceivable that when the great inflation caused by China's political will to attack the already vast majority of poor bellies which is located in the countryside, even in the presence the strict repression of the Chinese communists are capable, the scheme would be forced to act as a priority the reduction in food prices: and at that point must be reversed 180 degrees, the current monetary policy.
But even here, what matters is the structural aspect, as well as philosophical and political issue in China. We are in a situation where a Communist dictatorship, led by a feudal oligarchy formed with means, in the name of the People, became the largest exploiter of the people that ever existed in history. Hundreds of millions of people are made to work 15 hours a day for starvation wages, without any protection whatsoever. By using this savage exploitation of people in the name of Marx (I imagine it turning in his grave), not only is unleashed a savage as development that threatens the entire planet in terms of eco-environment, but it is Picconato the international monetary system, giving a decisive push to the double mutation carcinogen that I wrote recently, so today's self-interest of a caste in power produces deadly global effects. In setting his nazi-fascist (the death penalty, lack of freedom of opinion, etc.). The large clique that controls China has found it easy to play the role of starting the monopoly capitalist economic and political process that will lead to the Great War Global also because the other side he found the Western decadence, well represented by the Bush political useful idiots, in their Once manipulated by powerful economic blinded by lust for profit and easily.
is why, in my opinion, there is no way out: a tangle of interests "particulari" that distort the general, now the threshold of no return has passed, the road leading global annihilation is in steep descent and humanity is the driving on a bus without brakes, but with lots of music on board (Titanic style).
But even here, what matters is the structural aspect, as well as philosophical and political issue in China. We are in a situation where a Communist dictatorship, led by a feudal oligarchy formed with means, in the name of the People, became the largest exploiter of the people that ever existed in history. Hundreds of millions of people are made to work 15 hours a day for starvation wages, without any protection whatsoever. By using this savage exploitation of people in the name of Marx (I imagine it turning in his grave), not only is unleashed a savage as development that threatens the entire planet in terms of eco-environment, but it is Picconato the international monetary system, giving a decisive push to the double mutation carcinogen that I wrote recently, so today's self-interest of a caste in power produces deadly global effects. In setting his nazi-fascist (the death penalty, lack of freedom of opinion, etc.). The large clique that controls China has found it easy to play the role of starting the monopoly capitalist economic and political process that will lead to the Great War Global also because the other side he found the Western decadence, well represented by the Bush political useful idiots, in their Once manipulated by powerful economic blinded by lust for profit and easily.
is why, in my opinion, there is no way out: a tangle of interests "particulari" that distort the general, now the threshold of no return has passed, the road leading global annihilation is in steep descent and humanity is the driving on a bus without brakes, but with lots of music on board (Titanic style).
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