Marc Faber believes that Yuan’s devaluation is meaningless. Yes and no. It doesn’t matter in terms of what it will actually accomplish, but it does matter on two fronts. First, it is an indicator that the Chinese and global economy is not growing. Second, it gives everyone, including the FED, an excuse to continue on with further devaluation and easing. And that will play out in our markets over the next few years.
This video is definitely worth 5 minutes of your time.Quite a good overview of the US Market as well.
