China announced its biggest interest rate cut in 11 years on Wednesday to boost consumer spending reflecting its growing urgency about reviving growth as it launches a multi billion $ stimulus packet.

The 1.08 percentage-point cut in China's key one-year lending rate is the fourth in 3 months.

The cut in the one-year lending rate to 5.58 percent,effective Thursday,is aimed at encouraging consumers and businesses to borrow and spend.

The stimulus package includes $293 billion in spending on airports,highways and other,$54 billion to improve infrastructure in the poor countryside and $53 billion to environmental projects.

It also includes $41 billion for construction of low-income housing and $5.8 billion for health and education prorams.

Looks like they kow what they are doing.EU is also adding 200 billion in an aid package. Seems to me a lot of work is going to be done soon or sooner than was in the planning.

Inca is optimistic but somewhat saddend by the sound of one hand clap from our new BOD.

Strength my friends December will be better;-)

Greetings,

Inca.