Chronicles Of Depression 2.0: #319: A-Bonds
Asia has an opportunity to save itself, and the world economy, from the crushing excesses of Wall Street. China and Japan, with other Asian countries holding substantial surplus reserves, should act now to create an Asia bond to contain the fallout from a weak dollar.
They’re beginning to ask That Question.
I wouldn’t want to be God:
I would rather bet on China’s authorities – who ignored the prediction offered 18 months ago by Hank Paulson, the US Treasury secretary, that they risked trillions of dollars in lost economic potential unless they freed their capital markets. That seems wiser than praying to God that the US soon finds a credible model of economic growth and for regulation of financial institutions.
Emphasis added by me.
Look at that. Crooked Chinese Communist leaders are deemed more trustworthy than God!
Talk about bad PR!