Jack Lew … No Clue? Follow up 9/1/2015

Dueling Opinions

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Jack Lew … No Clue?

Lew 0  –  Edwards 1

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Oops … A Clueless Jack Lew?

Dateline 9/1/2015

“As far as Augusts go, this has been the worst in nearly two decades for the Dow Jones Industrial Average.

The month of August can be pretty rough for stock investors. But this August has earned its place in the record books, as stocks wereunsettled by uncertainty over the state of affairs in the world’s second largest economy, China.”

For more information … click Market Watch below:

Market Watch

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July 8

The U.S. Secretary of the Treasury said: “China’s markets are still pretty much separated from world markets,” US Treasury Secretary Jack Lew said on July 8, arguing turbulence in Chinese financial markets was unlikely to spill over elsewhere.

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July 10

If Beijing’s policy measures do not prove successful: “…the same loss of confidence in the omnipotence of the Chinese authorities will surely swirl westwards”, Societe Generale’s Albert Edwards wrote on July 10. “Do not be surprised when the S&P collapses in exactly the same way as the Shanghai stock exchange.”

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Side Note: US carmaker General Motors derived 38 per cent of its first-quarter pre-tax income from its ventures in China.

Stay Tuned for Further Developments!

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