Albert Edwards Explains Why Bernanke And China Are Engaged In A Game Of Global Chicken Whose Downside Is A Hungry Revolution

``... here is the kicker in today's Edwards letter: by risking commodity price inflation, which he realizes all too well is being exported to China first and foremost, Blackhawk Ben is simply forcing China to either unpeg or raise rates sooner rather than later. Of course, in the process he is also hurting 80% of the US population which actually does care about such things as food and energy costs. In essence Bernanke has orchestrated a massive gamble, akin to a game of chicken in which he he poiased popular domestic discontent against that of China. If China blinks first, the Fed wins; if the US does, and food riots break out in D.C. before Beijing, it is game over.''