Jim Sinclair’s Commentary

A sage comment from CIGA Tim:

Yuan Yawn

Jim,

I heard a very astute comment on NPR news this morning about the Chinese announcement over the weekend. The commentator mentioned that the Chinese government official who made the announcement said it was done (and timed) to take the pressure off the G-20 summit meeting so that they could get something positive accomplished without the Yuan issue distracting them. Next, the reporter said, "of course the announcement didn’t say WHEN they would make the adjustment and that it could be a significant amount of time before it occurs."

He also said that it should be clear that even if they do release the peg they can always put it back on at a moment’s notice. I’m guessing the Chinese government doesn’t have to get Timothy Geithner’s permission to do that! I’m sure he (and his cronies) are patting themselves on the back for making China "do" this. (LOL).

CIGA Tim D

States Continue to Hire While Pension Funds Go Broke
CIGA Eric

As Armstrong has written, the greater the size of government, the lower the production of national wealth. As the government grows in size and scope, it must increasingly rely on statistical tricks to match national income levels produce from the once dominate private sector. Communism, Socialism, and Fascism have all taught us this lesson, but a lesson ignored is history destined to repeat.

“Politicians have talked a lot about layoffs during this recession,” writes Bloomberg columnist Joe Mysak.

“In most cases, that talk is an empty threat. Nobody wants to fire teachers, or firemen, or policemen, in the name of efficiency or good government.”

Source: moneynews.com ^[1]

More… ^[2]