Wednesday, June 08, 2011
Mr. Grice is right on the money about that overblown windbag called China. The unfolding of economic causality doesn't occur overnight, but operates with long and variable lags. China has been trying to command itself into becoming a global economic power, but that artifice has been wearing at the fringes for about eighteen months. The trigger for its comeuppance will be the Fed's upcoming change in monetary policy.