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shrike82 posted:Mar 27 2014 Yeah, a couple months before Chinese reserves peaked I may add.
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# ? Apr 21, 2015 20:42 |
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# ? May 13, 2024 08:42 |
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My wife has been talking about her sister's investment in what she only refers to as a "基金." I'm not sure if she's talking about a mutual fund, or something else. She is adamant that it is impossible for her sister to lose all her money, and that "it just go up little by little every day, you can watch it. It go down a little some day but then it go back up." Also "how it possible for to lose all its value?" It's clear she doesn't know anything about investment markets. She doesn't even know in any more detail what kind of investment her sister has. (I should HOPE her sister does...) Are there any good web sites in Chinese which explain different kinds of investments, how they work, how they can lose, and how bubbles and crashes work? I don't think I'm going to get through to her right now, as she's a little upset about my insistence that it is in fact possible to lose everything.
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# ? Apr 24, 2015 00:17 |
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Do you suspect it's an outright Ponzi scheme? I'm in an economics program, I will ask my Chinese coworker for suggestions for such websites if no one else has any ideas by tomorrow.
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# ? Apr 24, 2015 01:10 |
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Are there any quick Chinese summaries on the 1929 stock market crash in America? If you could find one of those that should be enough for her. Also maybe find a way for her to invest in like generic American municipal bonds if that's possible, if she insists on investing in something.
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# ? Apr 24, 2015 01:15 |
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It shouldn't be hard to explain that stocks are literally "an owning part of a thing" and that if nobody will pay anything for the thing, it is worth nothing.
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# ? Apr 24, 2015 01:24 |
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There is talk of the 2008 Chinese stock crash will repeat this year. I was in China during '08. I have a good feeling it will come this year.
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# ? Apr 24, 2015 02:17 |
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ProfessorCurly posted:Do you suspect it's an outright Ponzi scheme? I'm in an economics program, I will ask my Chinese coworker for suggestions for such websites if no one else has any ideas by tomorrow. No reason to suspect that, but my wife wouldn't be equipped to tell the difference, and I'm not sure her sister is. Nintendo Kid posted:Are there any quick Chinese summaries on the 1929 stock market crash in America? If you could find one of those that should be enough for her. My sister in law is saying that the situation that happened in the US won't happen in China because the government will stop it. So far I've only replied that the government can't stop it, they can only slow it. I haven't made an attempt at reading it, but at a glance I can tell the Chinese wikipedia article for "Economic Bubble" is not very comprehensive. VideoTapir fucked around with this message at 02:44 on Apr 24, 2015 |
# ? Apr 24, 2015 02:38 |
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Crash or no crash I made more money. I'm going to reinvest for one more roller coaster ride. And what's the name of the Financial product VideoTapir? The biggest one I think is Ali-fund by Alibaba. It's on average 10% yearly gain 4 years straight and you just transfer money from your alipay account. There were quite a few stock crashes in the Chinese market, it's just that lots of people are only starting to get involved in retail trading because capital controls are slowly being eased off. Financial products are actually hard for Chinese retail investors to buy, they have to jump through a lot of hoops. So you end up with shadow banks and proxy trades
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# ? Apr 24, 2015 02:50 |
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VideoTapir posted:My sister in law is saying that the situation that happened in the US won't happen in China because the government will stop it. Inform her that China's government stopping it means you at best only lose a small amount, but more likely lose most of it. Because the only way to stop it is to clamp down so hard that there ain't gonna be any easy money.
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# ? Apr 24, 2015 02:55 |
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I don't want to completely dissuade her. I mean I presume she has at least a sliver of financial education (she has a degree in port management of all things) , but it's clear she doesn't know what she's doing. This isn't something one should do unless you understand it.
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# ? Apr 24, 2015 03:10 |
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VideoTapir posted:My wife has been talking about her sister's investment in what she only refers to as a "基金." I'm not sure if she's talking about a mutual fund, or something else. She is adamant that it is impossible for her sister to lose all her money, and that "it just go up little by little every day, you can watch it. It go down a little some day but then it go back up." Also "how it possible for to lose all its value?" Watch the PBS documentary on the stock crash of '29 with your wife? VideoTapir posted:I don't want to completely dissuade her. I mean I presume she has at least a sliver of financial education (she has a degree in port management of all things) , but it's clear she doesn't know what she's doing. This isn't something one should do unless you understand it. Bad assumption. Your wife's sister put all her family's money in a ponzi scheme, and is now trying to recruit your wife (potentially for some promised 'bonus' or kickback from the fund).
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# ? Apr 24, 2015 03:31 |
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Yeah there's always going to be some big crash, but in this day and age, wages aren't really going anywhere. Not necessarily dump everything into that one hot stock, but have a basket of investments and a steady portfolio with monthly contributions. What are you guys going to do with your excess money, put it into your regular savings account A term deposit account ? Heck, she can even go RON PAULLLL and buy some spot gold ETF or related fund. When you hit 30 and have 0 investments /long term savings plan you are pretty hosed
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# ? Apr 24, 2015 03:50 |
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caberham posted:
Ron Paul would never buy paper gold, purestrain only.
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# ? Apr 24, 2015 04:04 |
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caberham posted:When you hit 30 and have 0 investments /long term savings plan you are pretty hosed Bourgeois as gently caress.
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# ? Apr 24, 2015 04:15 |
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I don't see why you shouldn't completely dissuade her. There are loads of failed investment schemes and products that were sold to retail customers in recent years. I'm not sure how well your wife or sister-in-law will take to this argument, but here's a thought experiment. Since 2009, China's banks created about $16 trillion USD in new loans to fund to a hodgepodge of investments. Some were profitable, but many were not. For reference, the US banking system has about $14 trillion in assets/loans. 6 years since, what investments could there be that are that profitable for that long and were overlooked during the boom years? How likely is it that whoever your sister-in-law is giving money to could actually find such profitable investment? Do you think that if such investments existed, they'd tell regular folks like your sister-in-law about it? Here's another possible argument: why expect this government to protect their money? The government doesn't do a very good job with protecting people in other ways (food safety, environmental regulation, social welfare, rule of law, etc). How would it suddenly become so competent at protecting people financially? I'm just spitballing arguments here, I really don't know if any of this would stick now that financial-bubble fever has settled in.
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# ? Apr 24, 2015 04:27 |
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My Imaginary GF posted:Watch the PBS documentary on the stock crash of '29 with your wife? It was something like 10,000 RMB, not all her family's money. I just don't want her getting overconfident and going all in.
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# ? Apr 24, 2015 05:02 |
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Get this book: 4 pillars of investing in Chinese http://www.amazon.cn/%E5%9B%BE%E4%B9%A6/dp/9862350377/ref=sr_1_8?ie=UTF8&qid=1429856476&sr=8-8&keywords=%E6%8A%95%E8%B3%87%E9%87%91%E5%BE%8B More about long term savings. You won't be rich but at least it beats having no savings plan at all
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# ? Apr 24, 2015 07:21 |
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For reference everybody 10,000 RMB is pocket change. Something like three months of a Chinaman's average salary i.e. nothing.
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# ? Apr 24, 2015 07:40 |
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Not so glorious after all. quote:
http://www.bloomberg.com/news/articles/2015-04-24/glorious-property-seen-as-close-to-default-after-kaisa-s-tumble I would blow Dane Cook fucked around with this message at 13:41 on Apr 24, 2015 |
# ? Apr 24, 2015 13:39 |
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VideoTapir posted:I don't want to completely dissuade her. I mean I presume she has at least a sliver of financial education (she has a degree in port management of all things) , but it's clear she doesn't know what she's doing. This isn't something one should do unless you understand it. Managing investments is something most people shouldn't do, including many people who do it. That said, if it's a smallish amount of money let her do it for the experience or "un. Just don't consider it investing.
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# ? Apr 24, 2015 14:51 |
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caberham posted:excess money It's not 1960 anymore, nobody has this except the 1%ers.
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# ? Apr 24, 2015 17:15 |
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China has cut its over night again. This is the third time in 6 months. http://mobile.reuters.com/article/idUSKBN0NV0A320150510?irpc=932
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# ? May 10, 2015 18:55 |
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It'll work this time I'm sure.
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# ? May 10, 2015 19:43 |
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This time I won't give a poo poo about all the naysayers. Yeah the economy's going to tank but it's been a while and I can make some more good money while the market is rolling. This will create another short rally in the stock market before a major correction.
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# ? May 10, 2015 19:53 |
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quote:
http://www.ft.com/intl/cms/s/0/cf088f60-f7d2-11e4-9beb-00144feab7de.html I would blow Dane Cook fucked around with this message at 00:58 on May 19, 2015 |
# ? May 19, 2015 00:55 |
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Sell all of your earthly goods and escape the coasts.
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# ? May 19, 2015 01:42 |
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poo poo is entirely hosed isn't it?
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# ? May 19, 2015 03:52 |
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People say that China isn't hosed because the politburo is awash in US dollar reserves to the tune of 3 trillion. There's a long way to go before China gets in any kind of trouble, whether it be a crashing housing market or a crashing stock market.
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# ? May 19, 2015 04:13 |
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Cultural Imperial posted:People say that China isn't hosed because the politburo is awash in US dollar reserves to the tune of 3 trillion. There's a long way to go before China gets in any kind of trouble, whether it be a crashing housing market or a crashing stock market. No the PRC doesn't get to magic away its problems like the United States, ya'll are hosed.
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# ? May 19, 2015 19:43 |
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Basically every article I read saying that it's not THAT big a deal guys is assuming that China being an authoritarian country is a literal panacea to any economic problems.
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# ? May 19, 2015 19:53 |
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Cultural Imperial posted:People say that China isn't hosed because the politburo is awash in US dollar reserves to the tune of 3 trillion. There's a long way to go before China gets in any kind of trouble, whether it be a crashing housing market or a crashing stock market. I see China as being a pastiche of themes from Great Depression-era Michigan. There are a lot of similarities there.
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# ? May 19, 2015 20:04 |
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Heard something on Bloomberg this morning about 'watch out for this weekend' in China. Any ideas what it might refer to?
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# ? May 19, 2015 20:30 |
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Make your money before the market implodes, you guys are just losing out
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# ? May 19, 2015 21:34 |
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China's currency reserves is going to continue to cushion the government, the bigger issue is going to be the chaos a crash will cause in the economy especially if it wipes out the savings of a chunk of the population. Right now China is desperately trying to build up domestic consumption, and this would set them back considerably.
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# ? May 19, 2015 22:10 |
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Fojar38 posted:Basically every article I read saying that it's not THAT big a deal guys is assuming that China being an authoritarian country is a literal panacea to any economic problems. Obviously not a panacea but on the other hand one that enables them to make decisions based on maintaining power at all costs; such as enforcing regulations on the 1% via firing squad if need be I think is the popular conception of Chinese politics vis-a-vis US paralysis regarding the same.
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# ? May 19, 2015 23:55 |
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caberham posted:Make your money before the market implodes, you guys are just losing out China Economy Megathread: Accurately predicting last week's stock moves since 2014.
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# ? May 20, 2015 00:58 |
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Apparently China is now going to construct a transcontinental railroad through the Amazon. Forgive me for being dumb here but, why?
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# ? May 20, 2015 14:27 |
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Drakhoran posted:Apparently China is now going to construct a transcontinental railroad through the Amazon. Forgive me for being dumb here but, why? Because they're running out of things to spend money on at home. In Victoria II terms they're boosting their industry score by investing in other countries.
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# ? May 20, 2015 14:34 |
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Drakhoran posted:Apparently China is now going to construct a transcontinental railroad through the Amazon. Forgive me for being dumb here but, why? There's currently a bottleneck for products coming from Asia; several of them have to go around South america. This is part of a trend for increasing access to the Atlantic/Europe.
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# ? May 20, 2015 14:38 |
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# ? May 13, 2024 08:42 |
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Drakhoran posted:Apparently China is now going to construct a transcontinental railroad through the Amazon. Forgive me for being dumb here but, why? It's a prestige program and it would all be done with labor from China. It, as well as the several other programs, probably won't happen.
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# ? May 20, 2015 14:41 |