Saturday, July 23, 2005

China Floating 

China has caved to international pressure to float the Yuan against other international currencies including the dollar. Some economists appear concerned this will have quite a negative on the US economy as Chinese exports cost more they will have less money to spend on supporting the US national debt, but I will put my chips on Alan Greenspan who said earlier this week that there would be an impact, but the bond market is competitive enough that the impact would basically be minor. It will be interesting what impact this has on US exports and job markets as well as the price of the dollar.
Here is the story link

China: Reforms Prompted Currency Change
Friday July 22, 11:49 pm ET
By Joe Mcdonald, Associated Press Writer
China Says Exchange-Rate Change Prompted by Progress in Financial Reforms


Saturday, July 02, 2005

June update 

Haven't posted for a couple weeks. Not much going on now. Got back from trip to Ohio. Saw president's speech the other day. I thought it was pretty good. While he tied one purpose of the Iraq war to fighting terrorism like that which hit N.Y. on 9/11 he didn't say Saddam was responsible for 9/11, but some of the reviews appear to indicate he did.

On a personal note, still working out, but had to take a bit of a break for the week I was out of town. Worked out one day durring that week in the hotel room, but that was it. Working on a paper this weekend that is due Monday for my MBA. The class is pretty interesting, but I am finding it a bit hard to stay engaged. I have a high GPA though and better get engaged soon if I want to keep it. The class is Accounting and Finance for Management Decision Makers through the University of Phoenix. Instructor is very good and my team does not slack leaving me to do extra work which happened last time, but that's ok. I learned more as a result. :)
Went to see War of the Worlds in the theater yesterday. I would give it a B+. I was impressed by the solid performance by Tom Cruise and Dakota Fanning. The fears of a father for his family were well done.


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