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Chinese Stocks Extend Friday's Losses Following Drop In Corporate Profits
Following the weakness in Friday's afternoon (China) session, tonight's open is decidedly shaky as Shanghai Composite open down over 2% and CSI-300 (China's S&P 500) is now down over 5%. This follows a year-over-year drop in China Industrial profits (-0.3%), the first since March as the small bounce in April and May is now done. Commodities are lower and silver saw a minor flash-crash shortlty after China opened.
- *SHANGHAI COMPOSITE FALLS 2.4% AT OPEN
- *CHINA JUNE INDUSTRIAL COMPANIES' PROFIT FALLS 0.3% Y/Y
Silver saw a mini flash crash...
But PMs are bouncing back now...
Charts: Bloomberg
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Excess reserves Tyler.
China selling UST and Treasury Notes (under 3 years)?
The destruction of the middle class.
Long CPSS (Chinese Prisons for Sharehold Sellers)?
What does it matter if China falls? Still relatively small market full of gamblers. First up 150%, now down 50%, fast money in and then out.
Except for those tens of millions of new retail trading accounts that have been opened over the last six months.
The PBOC will save them..
Chinese "Free Market" Government to the rescue.
(where have I see this before?)
Not today. Down 7.5% near close.
Very low volume, too. It was just a nice orderly, unhurried swan dive.
I've seen this movie before. It ends in tears and panic. Unless one is short the proper equities. :)
The Ultimate Guide to the Doom and Destruction for the Rest of 2015 Part 1: Economic Collapse
Chinese are gamblers...they should know the rules of the game?
Previously they were buying into real estate for the same reason. Does this bubble mean, the real estate market is really bad? That could be a bigger issue, or how much leverage is there?
It matters a lot because they have weasled their way into a lot of countries economies,like New Zealand, Australia. I think a lot of the world is unaware how powerful they have become. Mainland Chinese have been on a buying spree in New Zealand inflating real estate. They have been stockpiling dairy in China,now New Zealand farmers are suffering from the global drop in prices. I wonder who will buy the farms when they go under...yep our Chinese pals. Happening in Australia,7 generation farmers going to the wall and what country is buying huge tracks of farmland...yup China. Happening in Africa. They are a major worry.
I'll eat my hat if the Fed. raises rates.
If anything the fed will increase rates on reserves.(interest payed to banks) Inflation doesn't exist from the demand side.
Hyper~inflation is out of control right now. Look at the cost of FOOD!
They will raise rates if they want to crash the shit show, then they can divert the blame. They have given enough warning that they are raising, wouldnt surprise me at all. The FED will say "it wasnt us, our fabricated stats prove our house is in order".
What they want is something that doesn't look so damn pathetic and EOL (ie NIRP, QEternity, Bail-ins and God knows what) for the next round of easing when it's needed. They want to have a "normal" easing cycle, but they're not going to get it.
You Guys are both awesome. I just can't stop laughing at the stupidity of " Greedy Politicians"
How funny that you say Yen. My dad and I were speaking about just that and buying land to grow food and mitigate the fucking cost of food... Here in LA ground beef goes for $8 a pound.
You people out west get fucked up the ass for everything from gas to rents to food to taxes. How the fuck does anyone live there without welfare?
Some of us make a lot of money.....
Using common sense and data they won't raise. But both of those are optional with prncess Janet.
Time to blow out all US T bills!!! With a good excuse. It's like a BRICS wet dream
http://www.ft.com/home/uk
Watch out; the FT charges you to read the entire article.
Duck Duck Go the "paywall" .
The "Financial Times" is just another POS like the WSJ after that assclown Rupert bought it.
I can't remember the last YEAR the markets shorted $USD in front of the Fed.
I'm having an epiphany
Seams like a reasonable price for a thorough brain washing
China's 'subprime' meltdown is in the pipe, 5x5.
https://www.youtube.com/watch?v=8dXc2W1uWck
Ching chang chong China!
:)
So Hy~Bypass
Jet
urbofans?T
Better propulsion systems
After I shove my fist up my ass,
Anti Gravity propulsion.
Hard to imgine why anyone would sell, only 70 x trailing earnings. DOH
Biggest drop since 2007, good night.
No wonder the Chinese stock market went crazy.
The typical Chinese experience of Capitalism has been working in an Apple factory with suicide nets.
With the stock market boom, they could make money for nothing and get the true joy of Capitalism.
In the West, experience has made no difference, we still boom and bust and can't resist a bubble.
It is China’s first time, no wonder they went crazy.
“Capitalism’s free lunch, I love it” Chinese ex-Apple employee (last month).
While the bubble is inflating people get the true joy of Capitalism.
Making money while doing nothing.
Markets are irrational and have been since Tulip Mania in 1600's Holland.
Do not look for rational explanations, the prospect of easy money turns human beings into gibbering idiots.
Stocks, house prices, <yet another asset type> are going up in value.
I have heard of someone who has made lots of money, I want in.
I am making money, I need to borrow money to carry on investing and make more money.
Gibber, gibber, gibber ....................................
The bubbles burst; I am going to be ruined.
No more gibbering, till next time.
Tulip bulbs ..... gibber
South sea company .... gibber
UK Railways (1800s) .... gibber
The new internet (pre 1999) .... gibber
Sub-prime ..... gibber
Property .... gibber
Apple .... gibber
Social media .... gibber
Emerging markets ... gibber
Easy money ..... gibber, gibber, gibber
While I sit on my behind.
"How's my investment portfolio?"
Hard work is so 20th Century
When Capitalism reaches its zenith, everyone will be an investor and no one will be doing anything.
Central Bank inflated asset bubbles will provide for all.
The biggest market in the world today is derivatives, money making money without a useful product or service in sight.
With the market in derivatives being ten times larger than global GDP we can see that making useful products and providing useful services is nearly irrelevant even today.
We are nearly there.
It's a bankers world, devoid of all useful products and services.
How am I going to feed and clothe myself?
Stop nit-picking, only money matters.
Like most investors I am a lazy sod who prefers to get my capital working rather than doing anything myself.
Staring up your own company means putting all your eggs in one basket, the risk is frightening.
Investing means spreading your risk and is so much safer.
Money is the only thing that matters these days, why produce anything useful or provide a useful service yourself?
Investing is the future.
Regards Warren Buffett
Then I think you may wish to read this, for context:
http://www.chinafile.com/reporting-opinion/viewpoint/china-plays-market
Banks in the West are now strange hybrid private/state institutions with TBTF.
The profits stay in private hands and the losses are socialized.
Sophiscticated Wall Street investors caused sub-prime.
People never learn.
Fundamentals always go out the window in a bubble, mortgage value / income ratio, whats's that got to do with anything?.
NINA (no income no asset) mortgages - sophisticated US finance.
Down 8.5% ?
Outstanding
Collapse that never happened: China bounces back, discrediting Western analysts
http://theunhivedmind.com/wordpress3/collapse-that-never-happened-china-...
The Tragedy Porn producers never see things like this.
The timing was impeccable.
The Chinese government is the stock market.
Remember, Communists!
They keep buying cheap gold.
They are betting the US government falls.