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This Is What Market Mania Looks Like
Following the Chinese stock market's worst drop in recent history, a record-smashing 4.4 million new 'investors' opened stock-trading accounts last week, confirming that - despite the words (but no actions) of the regulators - China's BTFD market mania (after all the PBOC will just bail them out, right?) is in absolute full swing.
Charts: Bloomberg
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The Chinese are avid gamblers, or so I'm told.
Back in the 70s I rented a studio adjacent to Chinatown in San Francisco and was told that the prior Chinese tenant had committed suicide over gambling debts.
4.4 million in one week, on top of the tens of millions in recent weeks? Fuck off. These accounts are as legitimate as a large swaythe of facebook 'profiles' , 'views' and 'likes'
Nice story.
They are, as well as are their descendants that occupy the rest of the Asian sphere. It's in the DNA, like the gene for alcohol is in Native Americans.
China cracked down on gambling in Macau. Now it's legalized gambling in the stock market
I can not wait to hear a communist say, "Were all Keynesians now."
nah, its just Goldman's partners opening offices in all the little provinces
When ever I buy Chinese stocks, an hour later I want to buy some more.
Racist.
The preferred spelling is 'Rayciss'...
Looks to me as if the market is grossly undervalued relatively.
Bullish
Just keep printing!
Please let them burn their cash at the casinos. At least they're not polluting the Westcoast with their Mao paper.
lol, 4.4mil is a drop in the bucket and ignores the fact that most people have multiple bank accounts which have added stock market support.
hell, i can buy and sell stocks on alipay if i want to. these numbers mean nothing
All I can think about is "aaaaanannnnnd It's GONE!!!"
looks perfectly normal to me ... what's the problem?
The Shoeshine Boys.com fully supports BTFD in Shanghai. /s
Stop the craziness, this is but a drop in the bucket. China's market cap vs GDP pales in comparison to the typical so called Western developed economies...
Yeah, it's such a problem--especially if you're too chickenshit to ride a trend...
I've been involved with trading in one form or another since 1993. But I have to tell you, I have never been so concerned about the future, not even during the dot.com crash. This is now becoming downright scary. My balls have shrunk to the size of peanuts. If they get any smaller, I'll have to do a Bruce to Caitlyn job.
What you're experiencing is good. It means you're alive --