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Strategies & Market Trends : Value Investing

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From: Spekulatius	10/18/2010 12:58:44 AM
	1 Recommendation Read Replies (1) of 78753

OT - re CNBC "Power Lunch". I started to record those in my DVR. "Breaking news" was Timmy's report about the allegations of Chinese currency manipulation is delayed after G20 meeting. What a joke. First of all the Chinese clearly state that they keep their currency closely pegged to the US$. So that is currency "manipulation" by definition. ( I personally don't even think that the Chinese blamed for controlling the exchange rate ). They interviewed a homeowner from San Diego who decided to do a strategic default. What was funny about that interview is that the CNBC folks argued with this person on moral grounds and even brought up the argument that many people going down the route may cost investors billions of $ as this would depress bank stocks. But why would this person (who claimed he dealt with 15 different reps to get this mortgage re-negotiated without getting anywhere) care about bank stocks? Totally silly, imo. CNBC would be much better if they presented facts rather than opinions but I guess that space is already taken by Bloomberg TV.

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