It is the 14th of October 2019

News

China Is Building An Army Of Worker Robots

Three weeks ago we reported an amusing anecdote out of China in which robot waiters in a Guangzhou restaurant had been "fired" because whencustomers flocked to the Heweilai Restaurant chain in the southern Chinese city, they found they were not all they are cracked up to be. "A staff member said the robots couldn't effectively handle soup dishes, often malfunctioned, and had to follow a fixed route that sometimes resulted in clashes. A customer also said the robots were unable to do tasks such as topping up water or placing a dish on the table."

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China's Stealth Devaluation Continues Despite Lew Blasting "Unacceptable" FX Practices

"Intervention in foreign exchange markets in order to gain a competitive advantage is unacceptable," proclaims US Treasury Secretary Jack Lew in a strongly worded statement today with regard America's position in the global economy. That we note this comment is only relevant as, despite the apparent "stability" of the Chinese Yuan against the USD, relative to the 13-currency-basket with which China primarily trades, the Yuan has collapsed to 17-month lows - with JPY and EUR appearing to bear the brunt of the pain.

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Bernanke's Former Advisor: "People Would Be Stunned To Know The Extent To Which The Fed Is Privately Owned"

With every passing day, the Fed is slowly but surely losing the game.

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