tag:blogger.com,1999:blog-5785935717428454542.post5703836768414748722..comments2023-09-15T10:48:11.850+02:00Comments on The old version of Steen Jakobsen blog: A bank is a place that will lend you money if you can prove that you don't need it. Bob HopeUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-5785935717428454542.post-5902656222155018202009-03-09T21:04:00.000+01:002009-03-09T21:04:00.000+01:00Hi SteenThe best that can be said for the G20 is t...Hi Steen<BR/><BR/>The best that can be said for the G20 is that there are no expectations to disappoint (unlike, say, Geithner's "bad bank plan"). That's good, as the EU and US appear to be at loggerheads, cf. Juncker's comments this afternoon. <BR/><BR/>Re: China --- as Michael Pettis has pointed out, China is continuing to create manufacturing capacity. As a trader from my old shop used to say, "What's the first thing you do when you're in a hole? Stop digging!!!".<BR/><BR/>Re: USD --- several banks have pointed out that US (monetary) policy is actually restrictive which, at least in theory, should be a dollar positive.<BR/><BR/>Regards, MWAnonymousnoreply@blogger.com