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Fojar38 posted:That's why this is so glorious; honestly the fallout in the developed world isn't going to be particularly severe unless you put literally all your chips in the China basket in which case you deserve to lose your money for making a dumb investment. Unless it causes a global deleveraging again, but at least for first world us sitting here there's at least a firewall or two in the way.
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Aug 25, 2015 01:17
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cheesetriangles posted:Don't forget they put your pension into the fire. And almost certainly killed members of your extended family through the Great Cultural Revolution. The fact the Chinese government sucks at investment planning is literally the least evil thing they've done.
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Aug 25, 2015 01:22
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Has anyone gone back and collected all the Wall St. banks' statements assuring everyone that everything was fine when we felt the first tremors of this? Were they playing a con telling everyone else not to panic while they quietly cashed out or did they take a haircut along with everyone else?
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Aug 25, 2015 01:36
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When the crash happened there were links getting posted in the thread of people saying buy China and I remember them fondly with a chuckle.
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Aug 25, 2015 01:39
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Necc0 posted:Has anyone gone back and collected all the Wall St. banks' statements assuring everyone that everything was fine when we felt the first tremors of this? Were they playing a con telling everyone else not to panic while they quietly cashed out or did they take a haircut along with everyone else? Oh yes. http://www.bloomberg.com/news/articles/2015-07-09/fidelity-joins-goldman-saying-buy-china-stocks-after-market-rout http://www.bloomberg.com/news/articles/2015-07-07/goldman-sachs-says-there-s-no-china-stock-bubble-sees-27-rally http://davidstockmanscontracorner.com/the-free-market-is-dead-goldman-says-china-is-a-buy/
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Aug 25, 2015 01:51
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so did the crash happen, or is it happening.
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Aug 25, 2015 01:53
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Mercury_Storm posted:Oh yes. The Titanic isn't sinking, in fact, you should buy tickets now while they're cheap.
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Aug 25, 2015 01:54
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Dapper_Swindler posted:so did the crash happen, or is it happening. We'll find out in what, ten minutes?
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Aug 25, 2015 01:54
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NEED TOILET PAPER posted:We'll find out in what, ten minutes? what do you mean? sorry i ask stupid questions. i have never been big on economics. (more of history person). plus i have a bunch of chinese friends. so i am hoping they arnt completly screwed.
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Aug 25, 2015 01:57
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Necc0 posted:Has anyone gone back and collected all the Wall St. banks' statements assuring everyone that everything was fine when we felt the first tremors of this? Were they playing a con telling everyone else not to panic while they quietly cashed out or did they take a haircut along with everyone else? It is a bit more murky because Chinese statistics are so opaque, I am sure plenty of them thought there would be a crash and said the opposite. However, I don't know if anyone was really truly knew" because all the numbers are obvious garbage and the Chinese government itself may not even know what is actually going on. However, this thread has been pretty bearish about China for a while. If anything the latest events have re-cemented historical theories on developmental patterns that get thrown out any time a "miracle" happens. There are no miracles in economics, not even during a industrial revolution.
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Aug 25, 2015 01:58
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Adventure Pigeon posted:The Titanic isn't sinking, in fact, you should buy tickets now while they're cheap. There was actually 3 ships made in that class and the third one never sank so please invest in China.
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Aug 25, 2015 01:58
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cheesetriangles posted:There was actually 3 ships made in that class and the third one never sank so please invest in China. One of them was torpedoed too so it wasn't really their fault.
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Aug 25, 2015 01:59
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Dapper_Swindler posted:what do you mean? sorry i ask stupid questions. i have never been big on economics. (more of history person). plus i have a bunch of chinese friends. so i am hoping they arnt completly screwed. The Shanghai stock market reopens soon. Presumably, it'll drop like a stone the moment it does unless the PRC is holding aces. Feel free to track it here: http://www.google.com/finance?q=SHA%3A000001&ei=nj7bVZGbEdbJefjIp-gE Recommended background music: https://www.youtube.com/watch?v=vyFkPd6fEuI and don't worry about sounding silly, I'm in the same boat and can kind of follow along, but I don't fully understand what's going on either. NEED TOILET PAPER fucked around with this message at 02:04 on Aug 25, 2015 |
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Aug 25, 2015 02:00
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computer parts posted:One of them was torpedoed too so it wasn't really their fault. Actually I just looked it up it did sink. It hit an underwater mine during WW1. But it was being used as a hospital ship at the time and not a passenger liner.
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Aug 25, 2015 02:03
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Constant Hamprince posted:The Chinese century is so poorly manufactured it breaks down after only 15 years. 
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Aug 25, 2015 02:05
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Remember that individual stocks aren't allowed to lose more than 10% in a day, so if we go down 8-9% again it means almost every stock hit the biggest drop possible and then stopped trading for the day. Constant Hamprince posted:The Chinese century is so poorly manufactured it breaks down after only 15 years.
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Aug 25, 2015 02:10
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cheesetriangles posted:When the crash happened there were links getting posted in the thread of people saying buy China and I remember them fondly with a chuckle. People are doing that now with American tech stocks because American job rates and fundamentals are strong so they've gotta go back up! Ignoring the fact that Chinese job rates were even better
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Aug 25, 2015 02:12
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sparatuvs posted:close enough, i'll try to find more faces of despair I feel bad for that guy. he probaly just saw his entire life savings get pissed away. and probably his pension too.
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Aug 25, 2015 02:12
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coma posted:People are doing that now with American tech stocks because American job rates and fundamentals are strong so they've gotta go back up! Ignoring the fact that Chinese job rates were even better Jokes on them I don't have any money anyway.
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Aug 25, 2015 02:13
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Dapper_Swindler posted:I feel bad for that guy. he probaly just saw his entire life savings get pissed away. and probably his pension too. And now he's the subject of goon photoshops. Truly the most tragic fate.
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Aug 25, 2015 02:14
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coma posted:People are doing that now with American tech stocks because American job rates and fundamentals are strong so they've gotta go back up! Ignoring the fact that Chinese job rates were even better American fundamentals are strong though?
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Aug 25, 2015 02:14
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Dapper_Swindler posted:I feel bad for that guy. he probaly just saw his entire life savings get pissed away. and probably his pension too. Should followed the 5000 year tradition and pissed all his money away at the mahjong table
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Aug 25, 2015 02:15
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14 mins 
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Aug 25, 2015 02:16
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coma posted:Ignoring the fact that Chinese job rates were even better The chinese have had the same unemployment rate for the last 5 years so it must be true.
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Aug 25, 2015 02:17
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Jumpingmanjim posted:14 mins so if the numbers are the same or worse, they are hosed?
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Aug 25, 2015 02:18
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I'm waiting for China to offset the unemployment with legalizing porn as a new growth sector. 
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Aug 25, 2015 02:18
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Fojar38 posted:American fundamentals are strong though? The housing bubble got re-inflated after the pop, we could see it be kept alive by insane foreign capital flight to the U.S. looking for a 'safe' place to put their money but if we see layoffs as a result of the tech devaluations the whole thing might go tits up
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Aug 25, 2015 02:18
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coma posted:The housing bubble got re-inflated after the pop, we could see it be kept alive by insane foreign capital flight to the U.S. looking for a 'safe' place to put their money but if we see layoffs as a result of the tech devaluations the whole thing might go tits up Can I blame this on Steve Jobs somehow?
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Aug 25, 2015 02:19
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cheesetriangles posted:Can I blame this on Steve Jobs somehow? sure. I blame him for everything apple does/doesnt do anyway. plus the poo poo mountain on his grave makes good fertilizer.
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Aug 25, 2015 02:20
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Jumpingmanjim posted:14 mins what happens in 7 minutes?
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Aug 25, 2015 02:25
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sparatuvs posted:what happens in 7 minutes? the markets in china open
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Aug 25, 2015 02:26
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In 3.........2........1........
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Aug 25, 2015 02:27
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DOWN 6.4% (200 points) instantly.
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Aug 25, 2015 02:27
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cheesetriangles posted:Can I blame this on Steve Jobs somehow? Just a reminder, they found cancer that killed Steve Jobs incredibly early but it wasn't until it hit like stage 3-4 (when you're just waiting until your funeral) that he stopped trying to treat it with bullshit holistic medicine. His death really should have been ruled suicide by stupidity / hubris.
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Aug 25, 2015 02:27
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Did it just drop -6% just like that? It did.
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Aug 25, 2015 02:27
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Wasn't that holistic medicine bullshit made up by Mao after he killed all the doctors?
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Aug 25, 2015 02:28
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Right out the gate at a strong -6.41%. God have mercy on the Chinese. If poo poo goes downhill, the apparatchiks that got them into this mess sure won't be kind.
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Aug 25, 2015 02:28
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cheesetriangles posted:How does letting the market correct gel with hey maybe pump all the pension money into this? If they were going to let it correct and stop burning all their reserves on propping it up why sink pension money into a market that was burning down? Never imagine the Chinese government is good at its job.
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Aug 25, 2015 02:28
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Doesn't it open at half past?
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Aug 25, 2015 02:29
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According to that stock ticker it looks like the market dropped 200pts.... or... 6% on opening.
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Aug 25, 2015 02:30
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