Good grief Charlie Brown.
Opinion: China’s stock-market crash is just beginning
China
Weatherweenie's Account Talk
Teddy Roosevelt: Patriotism means to stand by the country. It does not mean to stand by the president or any other public official. Retired on November 30, 2023 with 30+ years of service.
Good grief Charlie Brown.
Opinion: China’s stock-market crash is just beginning
China
I'm sure some margin calls are going out in the US right now.
Is today Saturday again?
Shanghai drop stops, reverses. Now up 1%.
Bottom?
Or dead cat bounce?
Note: In case anyone is keeping track, the Shanghai index is now where it was in Mid-March of this year, still almost double where it was a year ago.
It's not like a sudden drop is unusual for China's markets.
Take a look at the 1, 3 and 10 year history of the Chinese markets. They are just now learning about greed and capitalism from the inside.
http://data.cnbc.com/quotes/.SSEC
Rules:
- Trade what you see, not what you believe
- Don't put stuff in your signature that a Mod doesn't like
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http://www.SaveUp.com/r/nmJ
Well, I guess this is the new Chinese way to handle the situation:
China bans big shareholders from cutting stakes for next six months
BEIJING/SHANGHAI (Reuters) - Chinese stocks bounced on Thursday, after the securities regulator banned shareholders with large stakes in listed firms from selling, in Beijing's most drastic step yet to stem the dramatic plunges that have roiled global financial markets.
As the daily drumbeat of official announcements aimed at propping up the sinking equity market continued, state news agency Xinhua said police would investigate "malicious" short selling of stocks, and the banking regulator said it would allow lenders to roll over loans backed by stocks.
The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 2 percent in early trading, while the Shanghai Composite Index gained 1 percent. Both had tumbled around 6-7 percent on Wednesday.
More:
China bans big shareholders from cutting stakes for next six months - Yahoo Finance
So China just banned selling stocks.
That ought to do it.
Free Market in China? NOPE you can't sell, but you can BUY, but can't sell after you do. This will not work.
Welcome to the Hotel Shanghai!!
Last thing I remember, I was
Running for the door
I had to find the passage back
To the place I was before
"Relax, " said the night man,
"We are programmed to receive.
You can check-out any time you like,
But you can never leave! "
On a more serious note, price controls DO NOT WORK. This could be the action that really ends up hurting everyone and everything 6 months from now.
FS
FogSailing
Try to learn something about everything and everything about something.
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