A diary of the thought process behind my investment decisions
How About A Glass Of Shut The Hell Up
I am tired of listening to the Chinese lecturing the US about being responsible. China acts as if buying treasuries is some sort of act of benevolence. The Chinese buy treasuries because they want to keep the yuan artificially low. This has the effect of making their labor cheaper and makes China more competitive. It also has the effect of making US labor less competitive. Cheap credit from China had the knock on effect of helping fuel the credit bubble. After helping to create the problem, they now want to lecture us as well?