By Richard Russell
By devaluing the yuan, China becomes more competitive. Merchandise that’s sold to China is not as profitable, and China’s exports are cheaper in terms of other currencies. Since China is the world’s second largest economy, all other nations must become more competitive if they are to survive.
As I write, the Dow is down 34 but still above the big even number of 17,000. Transports are down 48 but still more than 200 points above 8,000. They key Nasdaq is actually up 10 to 5,046. Gold is higher by 14.9 to 1122.6 and silver is up 0.21 to 15.49.
Subscribers have wondered what it is like to be advancing to age 92. I can tell you first hand, at this age you are weak and anything that requires physical effort feels difficult. The big difference when you are older is that you can’t look forward to feeling “normal.”
At younger ages, when you are weak or sick you ... Log in or subscribe to continue reading.