IM(1)PETUS

I cannot believe the growth that is occuring in the monetary aggregates (M1, M2, etc.).  It looks like the Fed is targeting the aggregates now that policy rates are drunk and lying on the dirty kitchen floor.

Ben Bernanke = Paul Volcker * (-1)

Is China Preparing to Debase the Yuan?

It seems that the recent China currency bill passed by the US has done exactly what we though it would:  piss off China - royally.  We laid this out there a few weeks ago, and aren't surprised by the reaction. 

What's the likely next step?  Read this post (paying particularly close attention to the final paragraph), and you should get a better idea.  Please, don't take our word for it - PBOC has already begun increasing the yuan's daily trading ranges...and I'm sure it's [NOT] for the sake of a brisk yuan rally.

Timmy G:  Eat your tiny, marbled heart out...you walking calamity, you.  

Joy -v- Pain

Historical word frequencies ("Joy" in blue, "Pain" in red) from Google Ngram.