am i friends with any econ majors?
okay, so i saw this in an article this morning and it might be the most nonsensical sentence i've ever seen in the news.
"China scrapped the yuan's peg to the U.S. dollar on Thursday and tied it to a basket of currencies, the central bank said."
the rest of the article is here and there's a lot of talk about "virtual pegs" and "baskets" and i just flat-out don't get it. can anybody explain it to me?
posted by stefanie @ 7:54 AM
7 comments
7 Comments:
Ick. You may have to post this on Smoted, Dave and Jason are both econ majors, perhaps they can make sense of it. :shrug:
It's nonsense, all right. What the hell is "China?"
If Helen were around, she could tell you about it.
Don't forget to change my link over on your link list!
helen! dan, you're a genius! i'll email her. and i don't have your new link, by the way. i was dismayed this morning to find that you had moved. email it to me, or PM me on smoted.
http://207.44.245.159/article7316.htm
To paraphrase the famous supply side economist, Eric Cartman, "Asian culture has plagued the earth for thousands of years and must be destroyed."
man, yeah. that was one rockin book report.
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