"The link between education and health is one of the most robust empirical relationships in the social sciences" ~ FRB
Bernanke pointed to the benefits of devaluing the dollar to the tourism industry, which shows up as exports, and benefits the trade deficit figure.
- More evidence he’s specifically targeting dollar devaluation.
Bernanke mentioned using the REPO rate instead of the LIBOR
- A research piece by the NY Fed studied the REPO rate around the 2008 crisis, then concluded the REPO rate should be manipulated artificially lower along with the Discount Rate. So by substituting REPO for the LIBOR, it merely transfers the illegitimate manipulation from private banks to the central bank , therefore making it legal, albeit still disgusting.
Shadow banking in China is about 1/3 of China’s official loan market or $2.4 Trillion (15 trillion yuan) says SocGen ~ bloomberg
- China’s threshold for too big to fail is 100,000 State Owned Enterprises, but they’ll seek to fleece foreign investors first.
"Fitch says China to achieve ‘soft landing" ~ marketwatch
- This is not the type of sentiment you see at market bottoms
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