Sunday, November 9, 2008

BS from bloomberg

Here is the bloomberg news I found from TF.

Nov. 9 (Bloomberg) -- China announced a 4 trillion yuan ($586 billion) stimulus plan to spur expansion in the world's fourth-largest economy, helping sustain global growth as the U.S., Europe and Japan teeter on the brink of recession.

Totally bullshit. Even it is ture, won't that creat competion for US, Europe and Japan? Sure they will use more steel, oil and all other commodities. But unlike before, the products they made will not ship to foreign countries any more. The whole article was taking about stimulate the internal consumptions. It will not help US and its recession. It will make it much worse.The chinese article from
After I read it, it is not ``We have long-awaited this stimulus plan". It basically is a regular planned activity for chinese govt. They want to spend money to improve j6ps living standard, build more infrastructure, the post disaster rebuilding. It has nothing to do with stimulus. Plus the number is just a ball park number used by the govt. I can't believe Bloomberg put out such a lie. Totally effing bullshit.Plus if the government is going to put a stimulus plan like that it will be all over every website. So far I found none. The only thing I found remotely close is this one.A chinese article talked about 800b fund to stabilize the market

It basically said that there is a report labeled "internal discussion only" 5pages was passes around as policy suggestions. The report was submitted by Institute of Finance & Banking, Chinese Academy of Social Sciences. So not likely to happen.

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