Wow just read your post and concur with most of it . Remember China is the one buying our bonds and they have a lot more influence than most would assume . Round one goes to the Fed for sure but its another short term balloon to fix a long term pickle .I know the Chinese leadership has to be scared to death with what we are seeing in the middle east . So for now it will be inflation over suffocating the economy with too many rate hikes . The genuine inflation rate in China is much higher than official recognized number we are given .