Archive - Aug 11, 2015
Who Could Have Possibly Foreseen China's Shocking Devaluation?
Submitted by Tyler Durden on 08/11/2015 02:46 -0500Well, pretty much anyone who is not an economist or Wall Street "strategist" because a mercantilist, export-dominated nation pegged to a currency that has appreciated by an unprecedented amount in the past year, is grounds for nothing short of disaster, or using the parlance of our times, a "hard-landing." Case in point: this is what we said just two days ago when the news of China's dramatic trade collapse hit in a post titled: "Chinese Trade Crashes, And Why A Yuan Devaluation Is Now Just A Matter Of Time"...
