The New Globalization
US Stocks Bounce On Hopes For New China Stimulus
I glossed over that headline the first time I read it. The second time made me reflective. It says a lot, not only about how messed up the U.S. economy is but how China’s stature in the global economy has changed over the years.
The substance is slightly less interesting, or at least should be addressed in another post. (Suffice it to say that a fiscal stimulus over here is not going to pull the U.S. out of recession.)
Of course, as things turned out, no huge new pile of stimulus money was announced by Grandpa Wen, and the Dow tanked again on Thursday. Was this also related? That sort of commentary is slightly above my paygrade.
