Sunday, April 17, 2011

China Worried About Inflation

Food, housing, raw materials, all rising in China.

In China’s latest move to fight inflation, the government said Sunday that Chinese banks would be required to set aside larger cash reserves.- China Orders Banks to Raise Reserves to Combat Inflation

It appears that China's "booming economy" is built on sand. Stimulus and increasing the money supply in the aftermath of the 2008 global crisis that threatened China's continued economic growth, only now, like in the US, the inflation chickens are coming home to roost. Now the very problem that the government there created is the "number one economic priority" that the Chinese government vows to fight. Idiots! The insane are running ALL the governments of the world.

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