Posted on 07/08/2015 6:14:46 AM PDT by Enlightened1
Nearly $3trillion wiped off Chinese stock markets in just the last few weeks
Government and investors launched campaign to prop up tumbling shares
Experts draw parallels with the credit booms that led up to the 1929 crash
Analyst: 'I've never seen this kind of slump before. Don't think anyone has'
China's tumbling stock markets plunged even further today, intensifying fears the country was tail-spinning towards the biggest financial disaster since the 1929 Wall Street crash.
Almost $3trillion (£2trn) – more than the entire economic output of Brazil – has been wiped out since markets went into reverse just a few weeks ago, posing a bigger headache for many global investors than even the Greek debt crisis.
China's government, regulators and financial institutions are now waging a concerted campaign to prop up the nation's stock markets – a move that failed spectacularly in the 1929 crash that triggered the Great Depression.
The plunge in its previously booming stock markets, which had more than doubled in the year to mid-June, is a major problem for President Xi Jinping and China's top leaders, who are already grappling with slowing growth in the world's second largest economy and another bursting bubble.
(Excerpt) Read more at dailymail.co.uk ...
The Obama depression continues to unfold.
BUT, they can't do anything without American supervision. So while I don't see manufacturing coming back here, I see more and more ex-pats relocating to watch over the production areas.
It’s true the USA is becoming as cheap as the third world. Do your own research. Learn.
All I have to do is look at the cost of manufacturing in my own company between plants in the US, Mexico, and China. The USA is not as cheap....at all.
I guess you are looking at labor only. Obviously yo know little about manufacturing cost structure. Labor is a small slice of the cost pie.
Actually I’m not just looking at labor. The “all-in” price is far less expensive as well. We have metrics on EVERYTHING. The only area that is cheaper in the US is new product development and prototyping. That’s it and it’s for a very good reason - intellectual development and engineering design is best done in the US.
Post the data.
“That’s it and it’s for a very good reason - intellectual development and engineering design is best done in the US.”
And the 99% of American workers who can’t do those things? F*** ‘em?
There are no labor shortages in the tech sector. There are only shortages at the salaries being offered.
I’m not about to post company data. Suffice it to say, its about 30% less expensive. If it was within 10%, an argument can be made. It’s not.
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