Wise Chinese Sayings...in C(r)ookies of Fortune

WSJ reports that 'China's top bank regulator blamed the U.S.'s loose monetary policy for creating new global asset bubbles, saying low interest rates and a weak dollar are encouraging speculation in world markets.The U.S. Federal Reserve's promise to keep interest rates at extraordinarily low levels for an extended period "has already led to a massive U.S. dollar carry trade and massive speculation," said Liu Mingkang at the International Finance Forum in Beijing, which began shortly before U.S. President Barack Obama arrived for his first visit to China. Mr. Liu, who is chairman of the China Banking Regulatory Commission, said the weak dollar and low U.S. rates are creating "unavoidable risks for the recovery of the global economy, especially emerging economies," and that the situation is "seriously impacting global asset prices and encouraging speculation in stock and property markets."...'

Rather than putting the country on a strict diet, Benny and his friends have been serving us any and all food- greasy and grubby, that we can splurge on. Serious surgeries will be required, sooner or later.