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"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Wednesday, January 09, 2008

Two Stories I'm Watching

China Extends Price Freeze Ahead of Key Holiday in Anti-Inflation Move
BEIJING (AP) -- China will extend a price freeze on gasoline and closely watch food supplies in a new effort to cool galloping inflation ahead of the Lunar New Year holiday in early February, the government said Wednesday.

XX Why this is interesting -- the easiest way for China to control inflation would be for it to let its currency rise against the US dollar.

Poorer Countries to Offset US Slowdown Continued robust expansion in developing countries will help offset a slowdown in the United States this year amid concerns of a possible recession in the world's largest economy and oil prices will gradually decline, the World Bank said Wednesday.

XX Why this is interesting -- this is a sharp stick in the eye to doomsayers who say the sputtering US economy is going to drag down commodity prices.

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