Cut Happy

China cut interest rates again, in wake of the record Fed cut. Hopefully this isn't another case of too little, too late. The Hang Seng was off more than 3 percent today.

Beijing Tea Party...

Came across a less than ringing endorsement of the interest rate cut in China. The tone of the NY Times article seems to question if the cut was even needed and would be effective. Scroll to the bottom where it was reported 2,000 people 'watched' another 500 ransack a factory they had just been fired from. Things seem a bit rougher there than what I had gathered from previous reports...