I see the picture: Hu edges up a percent or two of Yuan value, and Turbo Timmy will go crazy as if he swallowed the entire bucket full of METH. WSJ is only so glad to be part of cheerleading squad. Just as they did back in bubble days. Not a single day went by without WSJ and CNBC cheerleading on financial market.
I remember posting some WSJ articles warning about Fannie and Freddie here* on FR. For a period of time, the WSJ was running articles about Fannie and Freddie what seemed about three or four times a week leading up to the collapse.
So if anyone is thinking of blaming "cheerleaders," then they should also look in the mirror and blame themselves for not being interested enough to heed the warnings.
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*Hardly anyone bumped the threads or commented.