He who places his hope on thee, O Virgin all-glorious, will prosper in all he does.

Inscription on Byzantine coin during reign of Romanus III

Wednesday, June 08, 2011

SoGen's Hayekian/Wicksellian Analysis Regarding China

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.

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