nouriel roubini warns
of emerging data showing the immense size of forex losses as a result of the asian central bank currency interventions/treasury market reinvestments
that have been making the american economy... well, possible for the last few years.
As it is clear from the World Bank report, the other points that we have been making for months now about - not just capital losses on forex reserve but also fiscal costs of carry cost of intervention sterilization, the loss of monetary control via partially sterilized intervention, and the risks of asset bubbles and inflation - have now finally been officially registered in the minds of public officials, at least at the World Bank.
if those officials are finally compelled by losses to act, i think most americans have little conception of the pain
we are due to take the brunt of.