China to the rescue—maybe! And ChartView

China’s new fiscal stimulus package is receiving rave reviews across the board this morning. Bond prices lower, stocks higher, oil higher, gold higher and the dollar getting whacked—it’s déjà vu all over again for the risk appetite crowd.

Should we rejoice and jump back in to everything once bubble-icious? Or does China’s action represent a sign of real fear and desperation as it watches its export demand crumble around its export-centric world view?

Why should China’s stimulus package prove any more effective than those conjured up by the smart boys in Washington?