Confusion hits the markets as stocks, currencies and commodities fall sharply across the region as investors fear a stalling China economy and possible currency war despite Beijing’s assurances. We warned that this devaluation was NOT A FLUKE, and far too many people just misrepresent what is truly going on within the world economy so it comes as no surprise they missed this one.
What more needs to be said. Our forecast that the dollar would rally sharply contrary to those who keep calling for its demise remains intact. If you do not understand the world economy and how we are all connected, you might as well apply for a bailout because you are going to need one.
Full article: China Devalued to Bring Yuan in Line with Technicals (Armstrong Economics)