CPR 9-7-2012 AMBASSADOR CATSBY RULES ON THE CHINESE STOWAWAY'S PETITION FOR AMNESTY
The Ambassador Jay Catsby, after feasting on Dim Sum (Photos 1, 2, and 3) has issued the following opinion on the petition for amnesty of Ni Hao, Chinese Stowaway Cat:
"The idea that we are at the mercy of the Chinese — that terrible things would happen if they stopped buying our bonds, or kept sending us their cats — is very influential. Yet it’s just wrong. We’re in a situation in which the incipient supply of savings, and of cats — that is, the amount that people would save at full employment , or the number of cats they would send us— is greater than the incipient demand for investment, or for cats. And this excess supply of savings and cats leads to a depressed economy. What China does by buying bonds, and sending us cats, is add to the excess savings, and the surplus of cats — which makes our situation worse. (This is just another way of saying that the artiicial trade and cat surplus hurts our economy — just another way of stating the same thing). And we want them to do less of it; far from fearing that they will stop, we should welcome the prospect. Yet this point isn’t even controversial — by and large, commentators aren’t even aware that fear-of-China syndrome, or the fear-of-Chinese stowaway cats, might be in error. So while I will grant the petition of this particular Chinese Stowaway cat, I expect him to behave himself while he is here, and not festoon 540 Paddock or paper the pantry litter box area with treasury bills. In short, paws off our bonds. That, or become my Galley Cat."
We will see when the markets re-open on Monday what effect the Ambassador's ruling will have on commodities and kitten swaps.
SPONSORED BY THE CHAIRMAN OF FELINE FEDERAL PURRSERVE, BEN FUR-NAKE.
"The idea that we are at the mercy of the Chinese — that terrible things would happen if they stopped buying our bonds, or kept sending us their cats — is very influential. Yet it’s just wrong. We’re in a situation in which the incipient supply of savings, and of cats — that is, the amount that people would save at full employment , or the number of cats they would send us— is greater than the incipient demand for investment, or for cats. And this excess supply of savings and cats leads to a depressed economy. What China does by buying bonds, and sending us cats, is add to the excess savings, and the surplus of cats — which makes our situation worse. (This is just another way of saying that the artiicial trade and cat surplus hurts our economy — just another way of stating the same thing). And we want them to do less of it; far from fearing that they will stop, we should welcome the prospect. Yet this point isn’t even controversial — by and large, commentators aren’t even aware that fear-of-China syndrome, or the fear-of-Chinese stowaway cats, might be in error. So while I will grant the petition of this particular Chinese Stowaway cat, I expect him to behave himself while he is here, and not festoon 540 Paddock or paper the pantry litter box area with treasury bills. In short, paws off our bonds. That, or become my Galley Cat."
We will see when the markets re-open on Monday what effect the Ambassador's ruling will have on commodities and kitten swaps.
SPONSORED BY THE CHAIRMAN OF FELINE FEDERAL PURRSERVE, BEN FUR-NAKE.
