Listen to what Dr Doom( Nouriel Roubini) has to say grasshopper;I discussed a few weeks ago in a New York Times op-ed the Chinese are flexing their muscles on the question of the global reserve currency system dominated by the dollar. The process that will lead - in the medium-long term - to a challenge of the US dollar as the major global reserve currency has started. The US creditors - the BRICs, the Gulf states and others - are becoming increasingly alarmed that the US will deal with its unsustainable fiscal path via inflation and debasement of the value of the dollar via depreciation. So they will not sit idly waiting for this to happen.
This brings new meaning to the phrase "Paybacks are a bitch!".
No picks today as we hover at strong resistance @ 923 on the S&P. Should be a very interesting short week. If you need me I will be practicing using my chop sticks.
