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The great fall of China.
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Aug 24, 2015 06:43
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Looks like the government has arrived -6.66%.
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Aug 24, 2015 06:50
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Jumpingmanjim posted:Looks like the government has arrived -6.66%. This. -6.10%
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Aug 24, 2015 06:54
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BCR posted:This. -6.10% So they're throwing the pension funds on the Sacrificial altar now then?
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Aug 24, 2015 06:56
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They're probably throwing everything at it.
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Aug 24, 2015 07:00
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Dropped back to about -7 now, and falling.. I think we've hit and passed a bull trap?
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Aug 24, 2015 07:01
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This is all so wonderful.
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Aug 24, 2015 07:03
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I don't entirely understand all of the economic technobabble , but holy poo poo is this probably the most interesting thing happening in the world right now. loving on the edge of my seat 
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Aug 24, 2015 07:05
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So uhh.. forgive my financial illiteracy but if China craters how hosed is the rest of the globe financially?
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Aug 24, 2015 07:10
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hooman posted:So uhh.. forgive my financial illiteracy but if China craters how hosed is the rest of the globe financially? Very hosed.
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Aug 24, 2015 07:12
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hooman posted:So uhh.. forgive my financial illiteracy but if China craters how hosed is the rest of the globe financially? There isn't a lot of foreign exposure to the Chinese financial markets if that's what you're talking about. If this pops the housing bubble though who knows. A lot of manufacturing has been moving away from China so how that will play out will also be a question.
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Aug 24, 2015 07:13
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hooman posted:So uhh.. forgive my financial illiteracy but if China craters how hosed is the rest of the globe financially? If you are banking your future sales on the burgeoning Chinese middle class. hosed. If you sell commodities to China. Super hosed. If you are a destination of fleeing Chinese capital. Pretty good, then hosed. VVV: Canada and Australia might be that hosed. ocrumsprug fucked around with this message at 07:16 on Aug 24, 2015 |
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Aug 24, 2015 07:14
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Daduzi posted:Very hosed. Not 2008-9 hosed though.
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Aug 24, 2015 07:14
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Rorac posted:Dropped back to about -7 now, and falling.. I think we've hit and passed a bull trap? Was going to be a dead cat bounce but the Chinese ate it.
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Aug 24, 2015 07:15
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hooman posted:So uhh.. forgive my financial illiteracy but if China craters how hosed is the rest of the globe financially? We're looking at a new global downturn. China's such a big market that it hurts everyone if it crashes. Also, stock market panic has a tendency to spread and become a self-fulfilling prophecy (it's called financial contagion for a reason).
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Aug 24, 2015 07:23
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US economic data is actually pretty good right now so maybe that will mitigate some of the global fallout.
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Aug 24, 2015 07:24
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Yeah this is basically GFC2: Wheres your Back to -8%
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Aug 24, 2015 07:24
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NYtimes article with a nice quotequote:Leung Chung, a 62-year-old retiree and day trader in a T-shirt and with a toothpick in his mouth, looked sourly at the monitors at his local brokerage in late morning. “I just purchased some stocks earlier this morning, but have already lost money,” Mr. Leung said. “I am not too concerned as I only bought stocks with solid financial strength.”
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Aug 24, 2015 07:25
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Fojar38 posted:Not 2008-9 hosed though. This is where we discover that several major financial institutions have placed a complex series of bets on China's future, and now the western central banks all need to cough up to make it good again.
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Aug 24, 2015 07:29
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Do they dumped another hundred billion onto the market today and it still tanked right.
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Aug 24, 2015 07:30
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How many stocks are suspended from trading long term now? When the crash first started and stocks dropped 10% multiple days in a row, I know a bunch those were pulled completely, but with the market continuing to free-fall how many more have been pulled?
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Aug 24, 2015 07:30
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AllanGordon posted:There isn't a lot of foreign exposure to the Chinese financial markets if that's what you're talking about. Not to the financial markets, no, but there is to the wider Chinese market. If confidence in China's economy evaporates, expect to see the stock of a whole swathe of businesses that are leveraged on Chinese growth (GM or Apple for example) and even whole sectors (for example steel) take a beating. That will inevitaly have knock-on effects. Daduzi fucked around with this message at 07:34 on Aug 24, 2015 |
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Aug 24, 2015 07:31
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5000 year history of bullshit and lies, thanks China! 
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Aug 24, 2015 07:33
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Desiderata posted:This is where we discover that several major financial institutions have placed a complex series of bets on China's future, and now the western central banks all need to cough up to make it good again. More than likely.
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Aug 24, 2015 07:35
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Daduzi posted:Not to the financial markets, no, but there is to the wider Chinese market. If confidence in China's economy evaporates, expect to see the stock of a whole swathe of businesses that are leveraged on Chinese growth (GM or Apple for example) and even whole sectors (for example steel) take a beating. That will inevitaly have knock-on effects. Good, maybe they'll have to invest in a non-authoritarian shithole.
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Aug 24, 2015 07:37
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So I guess we get to find out how strong those financial regulations about investment are.... GFC3: Well, that was loving inevitable.
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Aug 24, 2015 07:38
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It's back down below 8% by the way.
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Aug 24, 2015 07:39
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I still think that it's a bit too early to declare GFC2 though. What we're seeing is more the demise of the BRICS.
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Aug 24, 2015 07:41
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After lunch, CCP drops the cash After 2pm, everyone goes yeah i'm gonna take -6% then -9%, cashes out. 
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Aug 24, 2015 07:49
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The Guardian has a liveblog going right now that has some lovely photos of very sad Chinese investors.
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Aug 24, 2015 07:49
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As of about 15 minutes ago all of the gains in the Chinese stock market this year have been erased.
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Aug 24, 2015 07:51
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If any goons also happen to be high ranking members of the Chinese Communist Party now would be a very good time to initiate your escape plan.
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Aug 24, 2015 07:53
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A couple weeks more and it's time to buy some emerging markets index funds.
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Aug 24, 2015 08:11
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The FTSE right now (The UK was particularly exposed to China contagion)
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Aug 24, 2015 08:22
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Fojar38 posted:If any goons also happen to be high ranking members of the Chinese Communist Party now would be a very good time to initiate your escape plan. It'd be rad if this lead to the ousting of the commies, but I'm also kinda afraid of it.
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Aug 24, 2015 08:22
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Cubey posted:It'd be rad if this lead to the ousting of the commies, but I'm also kinda afraid of it. Chinese Donald Trump is gonna sweep the nation.
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Aug 24, 2015 08:26
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It's a stock bubble. Prices are dropping back toward what they were in February before the bubble started. It's not good but unless a whole lot of other poo poo happens it's not going to be the end of the world.
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Aug 24, 2015 08:30
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az posted:Chinese Donald Trump is gonna sweep the nation. Chen Guangbiao 2016
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Aug 24, 2015 08:30
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Grand Fromage posted:It's a stock bubble. Prices are dropping back toward what they were in February before the bubble started. It's not good but unless a whole lot of other poo poo happens it's not going to be the end of the world. Just the end of China and the aura of Chinese invincibility they've been projecting for the past decade.
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Aug 24, 2015 08:31
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| # ? May 28, 2024 17:52 |
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Grand Fromage posted:It's a stock bubble. Prices are dropping back toward what they were in February before the bubble started.
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Aug 24, 2015 08:33
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