Thursday, June 07, 2012

China's Surprise Rate Cut Spurs Hope

Markets Rally on News 

China's first interest rate cut since the depths of the global financial crisis in 2008/2009 suggests the country is stepping up efforts to support growth. Read more.

China's efforts since the onset of the crisis contrast sharply with those of Germany, which has done nothing at all to help the global economy. In fact, the dominant Euro Zone nation has done worse than nothing; it has made a negative contribution to the crisis by insisting on southern European austerity measures at the worst possible time--during a recession/depression. Why? The only logical answer can be that not only is Germany seeking to dominate Europe for the third time in less than a century, albeit this time through non-military means; the country that gave the world Hitler and the Holocaust is actually aiming for a grand, economic--and political--restructuring of the Continent, a redistribution of wealth and radical change in power relationships among nations and population segments that will effectively crush the middle classes by neutralizing organized labor and reducing the wages and living standards of white and blue collar workers to roughly those of Third World nations.

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