Why not? It's what the U.S. Fed has been doing for over 7 years now.
Posted on 06/28/2015 8:40:36 PM PDT by tcrlaf
The bounce is dead. CHINEXT - China's tech-heavy high beta 'Nasdaq' - is down 5-6% today, 19% in 3 days, and 33% from highs in early June!
All that pent-up demand to be ignited among the farmers and housewives of China thanks to a double rate cut (RRR and benchmark) enabled a mere 2.5% bounce in Chinese stocks at the open which has now completely been erased as Shanghai enters a bear market.
Decidely not what the doctor ordered. And as The South China Morning exclaims, many Chinese investors who have a planned economy mindset, believing government should help them, may well have a surprise coming.
(Excerpt) Read more at zerohedge.com ...
Why not? It's what the U.S. Fed has been doing for over 7 years now.
“no matter how bad the market gets, the Communist Party will eventually rescue them.”
Obama voters think the same thing!;)
Its not just China but worldwide. The problem is that the world has accumulated massive non sustainable debt. That debt represents consumed and squandered capital that cannot be recovered. Not only will stocks crash worldwide but living standards will decline markedly. In some areas there will be miserable poverty, social and political unrest. The SCOTUS decadent and hedonistic decisions dominated the news last week but soon there will be other miseries to follow.
I'm not Catholic but I think they do the "Hail Mary!" three times. Did they try that? This is panic time.
(Don't tell Jane Fonda though)(why bother?)
After 7 years of false alarms, I can’t trust that it’ll actually happen.
I’d be happy if it did though. Rather sad, but we could be 7 years into recovery.
Well, you see, what happened was that the hackers in China missed the secret coding. It said, “If you hack these files, the coding in here will crash your stock market.”
That "eh?" is just to recognize all the Hong Kong Ex-Urbanites holed up in Vancouver, British Columbia Canada, I suppose...
Well, let’s hope them there Chicoms don’t lose face over any of this!!! (grin)
Did Charlie Chan somehow become reincarnated as a computer hacker for the Chicoms?
Yes! And but he was working for us and he even had THEM fooled!!
But what I REALLY want to know is does he use fortune “cookies?”
That’s because someone started a Greece fire!
Looks like they were doing ok until the rate cut. Should have raised.
From Twitter, a minute ago:
CHINA CSI 500 STOCK-INDEX FUTURES FALL BY MAXIMUM 10% LIMIT
Quick! Send in the airport firemen!
ATTENTION CHINESE COMMUNISTS:
As of today anybody caught with more than 10,000 Yen will be held
for treason against our glorious leader, and executed. All Billionaires
are to report and hand over all assets and cash immediately, or face Treason.
Furthermore, you embraced our ways, now embrace the suck!
I guess the Red Chinese will have to renamed all their currency with Mao tse-Tung’s image on them to “Mao tse-Dung” because their money won’t be worth crap.
Wait, Obama will come to their rescue. He loves commie dictators and jihadist (just think Morsi and SiSi in Egypt; the Iranian Spring that he betrayed; the Chinese Spring he betrayed; the Ukrainian Spring he betrayed and continues to betray; his going after Israel for the worst sin in his eyes, Jews defending themselves from another Holocaust; the betrayal of the Cuban people; his kowtowing to Little Kim in No. Korea; ignoring massive human rights violations in occupied Vietnam, Cambodia and Laos; doing nothing to stop the genocide of Boko Harum; putzing around in Yemen; selling out Iraq and Afghanistan; etc.
How do you say TREASON any louder than this?
My prediction.
Obama will say how great TPP TAA TPA and whatever nonsense was in the trade deal has dealt a blow to the Chinese economy. When the US economy tanks he will blame republicans for misleading him about the details of TPPTPATAATAPTPT.
Ouch!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.