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Stuck In Market Purgatory: How China's Citizens Lash Out At The Broken Market, In Their Own Words
What a difference a month makes: back in June, Chinese farmers could barely wait long enough to open one (or more) brokerage accounts and leave the pig herd for good, filled with dreams of getting filthy rich and early retirement happy endings; farmers who said on the record that "it's a lot easier to make money from stocks than farmwork."
Alas, like with every rigged market (which in the New Normal is every market), dreams always turn into nightmares for the participants, and as we documented earlier, the same farmers who were giddy with delight a month ago realized that there is no such thing as a guaranteed "get rich quick" scheme, and the full extent of their naive stupidity:
"I have lost everything. I don't know what to do... I trusted the government too much..." he exclaims, adding "I won't touch stocks again, I have ruined everyone in my family."
Even sadder, like the Greeks, these poor (and now even poorer) representative of China's lower/middle class only have themselves to blame. Call it Natural Selection with a margin call...
However, not everyone was stupid enough to gamble (with 5x leverage), and get wiped out. Some are stuck in stock market purgatory, or as Reuters puts it "trapped in the market" and now they are hoping, praying and "plotting their escape with government money."
Some, like Mrs Zhu who is the "type of investor the Chinese government should worry about as it tries to engineer a turnaround in the country's stock markets, whose massive swings have heightened fears for the country's financial health." Mrs. Zhu is one of millions of retail investors who bought at what they thought was a low price with hope of selling to a greater fool higher, however the greater fools ran out and sho is now "trapped by the market crash in June who prefer to hold losing positions rather than take a loss" - in short, Zhu is just waiting for indexes to rise so she can sell.
She could be waiting for a long time. In the meantime, this is how millions of hopeful underwater investors pray their purgatory ends:
"I will sell all my shares tomorrow if there is a chance," said the government clerk, who almost hit the sell button last week after markets had recovered somewhat from June's slump. But because she was still set to take a loss, she held on.
"I am pretty sure that if the government does not come to rescue us, the situation will get much worse," she said.
As Reuters highlights, Zhu's way of thinking is so common there a Chinese phrase for it: "Tao lao" once meant being captured by a lasso, but is now most commonly used to mean "trapped in the stock market", which implies an investor cannot sell out of a losing position.
Which reveals Beijing's paradox: the more funds it deploys to prop up the burst stock bubble, the bigger the selling deluge it faces as "released" investors eagerly cash out breakeven, and move on, having had their fill with the excitement that only China's rigged market can deliver.
This highlights the risk Beijing faces in sustaining a market turnaround. Every time the government succeeds in pushing up share prices, an army of retail investors jump in to sell at their break even point, immediately knocking back market confidence. And "given that retail investors conduct an estimated 80 percent of trades, that means the government could face a long, hard grind before it can stabilize markets."
Which assumes that China will continue its unprecedented market bailout: "Monday's plunge showed the Chinese authorities that even governmental measures have their limits. It's anybody's guess what else they can do to shore up market sentiment," said Bernard Aw, a market strategist at financial spreadbetting company IG.
To be sure not everyone needs rescuing: those who bought and held stocks before mid-March are still in the black as many commentators are quick to point out. The problem is everyone else who is still deeply underwater, which according to Reuters may be as many as 10 million investors.
While investors who bought before mid March are still in the black thanks to previous gains, a Reuters analysis of public data shows that another 10 million investors opened new accounts since April, helping push up China's market capitalization by a net $4.5 trillion - until the bottom fell out in mid June.
This also excludes investors who god greedy:
Those figures do not include existing investors who added to their positions during this period, nor the famously stubborn holdouts who are sticking to loss-making positions that are years old.
Mrs Xu is one of them. She said she has been holding shares in China Life Insurance (601628.SS) since 2007, when it traded for around 75 yuan ($12.08) per share.
The stock gained a bit during the recent rally, at one point crossing over 42 yuan per share but then fell back to around 28, and Xu is still holding on.
"I thought I might be able to taking the losses back riding on this round of bull market, but it is still losing money so far," she said, adding she is also holding onto loss-making positions she took earlier this year and plans to sell as soon as they break even. "Maybe I am too greedy," she said.
But while China, which already has 300% in total government, financial, corporate and household debt, more than the US, Germany, Canada and Australia...
... can probably afford adding another 50% in debt/GDP to fully bail out the stock market - after all it isn't as if the credit bubble will ever shrink at this point now that all dreams of a "beautiful deleveraging" in China have been crushed - the biggest concern for Beijing is time, and specifically how long before investor patience runs out with carrying deep losses.
One upside for Chinese regulators is the "tao lao" mentality can slow selling in a falling market, explaining why there was so little popular outcry in June when nearly 40 percent of listed companies halted trading in their shares so they could ride out the crash. It could also explain why the government set a semi-official recovery target of 4,500 points for the Shanghai Composite Exchange, which would encourage investors who think this way to wait. The index closed on Tuesday at 3,662.81 points.
For Beijing, the biggest worry is that investors who were once patient are now so rattled by the big market swings that they are ready to accept losses just for peace of mind.
"Yesterday all my stocks hit limit down and I lost 20 percent of my money. Today all my stocks fell limit down again!" said student Liu Fangrui.
"I managed to sell them all at a loss today, and so I lost 320,000 yuan in two days. I don't have confidence on the market any more. I don't want to get into the market again."
But while losing patience in a rigged market and selling is one thing, a worse outcome would be when millions of Chinese lower-middle class citizens, deep in margin debt, suddenly realize they have nothing more to lose and lash out against the system which failed them, and the government which was so quick to promise stock market riches only to admit it has no control over the stock market let alone the economy.
To be sure, China has already announced it may arrested "malicious sellers" - how long before it preemptively arrests anyone who has suffered losses?
Perhaps it is concerns about this final crackdown which explains the following line from the Reuters piece: "Both Mrs Zhu and Mrs Xu declined to provide their full names."
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They all come crawling back
https://www.youtube.com/watch?v=4fk2prKnYnI
No one buying Chinese shit must mean the 'Merican consumer is doing great? Right?
This could bring down the government.
Brack swan indeed.
pods
Welcome to the Pitfalls of Capitalism - especially when you're not the Dealer
Ahhhh, the days of the tech bubble and Nasdaq 5000.......wait what, you can prop up the markets indefinitely?!
Have some faith in your gov't asian folks, I'm sure they'll keep topping up the market for you on zero volume like they do on this side of the pond.
Nope, everything goes to hell unless YOU, prop it up, including those titties. good luck with that.
A woman jumped to her death inside Shanghai's IAPM mall this morning, and while the case is still under investigation, it's been speculated that the apparent suicide was related to China's volatile stock market taking another dive. Another suicide believed to be related to the stock market crash was reported in Shenzhen
She didn't work for JPM's China bureau did she?!?
The Chinese Stock Market; the Chinese Checkered past...
Sum Ting Wong.
China hacks every other computer system - why don't they simply hack their market and run it up?
WB, Those papers look exceptional, no?
always wanted to ask: "do they have banks, and paper fiat in hell?
Damn, we are (well, most of us anyway)!
Coming to a stock market near you.
Can you elaborate on how this is remotely close to anything resembling capitalism? Must be another brain dead Sanders reporter on the wrong website.
What is this "capitalism" of which you speak?
And that is why half of China's army is internal 'security' forces.....
Very funny. obvioiusly you have no idea what "the government" consists of in China.
And they don't want you back either, you've been sheared and have nothing left to steal
Correct! They are propagandized sheep. When media and politicians again sound the "siren call" of easy profits in the markets, these fleeced sheep will come running back, to recoup their earlier losses. A cycle of fleecing!
Common theme across all these instances and utterances around the world, even after getting screwed: "help us gubbamin - save us!"
A worldwide phenomenon.
The Western banksters realized that the wool was not growing back fast enough on their domestic flock, (they were head shy due to being sodomized by the "shepards"), so what to do, what to do? AHHhhh-Haaa!
http://www.theguardian.com/business/2014/nov/18/china-opens-stock-market...
A whole new flock, with thick, luxuriant, fleece. Perfect pickings for the ol' pump & dump. The whole thing was told to me by a Chinese liaison to the Western private equity firms, Mr. Wi Fuk Hu.
While I sympathize with the people who were tricked by the government, investing more money than you can afford to lose, and risking the livelihood of your family in the process, is a sign of greed and idiocy.
Pass the Brawndo.
its the ubiquitous chinese malady---compulsive gambling.
In Chinr, the palty does everlything. NOT.
mission accomplished
www.roacheforque.blogspot.com
roacheforque's blog is an interesting take on FOFOA and related topics.
Note also that ZH wrote just the other day that the "Holy Grail" Russia-China NatGas pipeline is now on ice. I have little fear of a Russia-China Axis.
Atlas Crapped, if you are the blog's author, I wish you the best in your continued writing. Writing a non-commercial blog is hard, I know, I've been there.
"Non illegitimi carborundum"
I always loved the story of Hell Bank Notes. It was common in China to burn fake bank notes, deeds, and similar sympathetic artifacts in order to ensure dead loved ones prosperity in the afterlife. Then Christian missionaries came and insisted that anyone who died without believing the Christians teachings went to Hell. The Chinese, quite logically, assumed that "Hell" was just another word for the Chinese afterlife, and went on to adopt it as a word describing the peaceful and happy condition that your dead relatives would obtain just so long as your family continued to perform its proper duties to sustain them.
For real? That's wild.
You can buy and burn Hell Bank credit cards for your loved ones as well.
So Hades has ATMs
We laugh, but one of my (Chinese) wife's main reservations when she was deciding to become a Christian was to accept the fact that pretty much all of her ancestors are in Hell, along with pretty much everyone she knew over there heading to the same. I had similar difficulties with my own faith because it's not the easiest doctrine to accept.
I did see the relatives perform that ritual you are talking about, though. Given the number of people who've lived and died there it was also wild to go to the cemetery park and see the side of a mountain covered in tombstones.
I do not "yuan" stocks no moar!
Soon coming to a market near you...
I'd say we are in it now.
Not Quite. Later this year, perhaps.
"given that retail investors conduct an estimated 80 percent of trades"
There's your problem right there. Modernize the market by eliminating all carbon-based life forms, and the algos will trade this thing to infinity.
What the Ruck!
They Ried To Me!!
Fa ra ra ra ra .. ra ra ra ra..
Coming to other places where that's impossible to happen. And I can't wait.
A government big enough to give you everything, is big enough to take it all away.
They should have invested in the Nasdaq, the Frauderal Reserve has got your back
Our US markets and banksters are so much more sophisticated in fraud and market manipulations in comparison to those commie Chinese...
China, you need to get a better central bank that will print all the fiat needed to prop up your stocks on an hourly basis, forever. I heard Bernanke is looking for work.
"I don't want to get into the market again."
j6p circa 2009
j6p 2011 - dipping toes back in
j6p 2013 - all in with leverage
j6p 2015 - federal reserve won't let market fall
It's always someone else's fault, whether it be the subrpime mess or Chinese stawk market. Some even blame their own problems on the Konfederate flag!
It's likely those investors who god greedy.
Coming to a stock market near you...."I will sell all my shares tomorrow if there is a chance,"
I will gladly pay you friday, for a hamberger today.
CNBC says: Global investors feel little impact from China market plunge
http://www.cnbc.com/2015/07/28/global-investors-feel-little-impact-from-...
someone is obviously lying...question is: WHO IS IT?
my guess is CNBC
"I trusted the government too much..." "I am pretty sure that if the government does not come to rescue us, the situation will get much worse,"
Genius.. pure genius! Morons are and will always be!
The gvt trusts the people, and some of the people trust the gvt.
just like what is happening in the USA and Europe. The MSM, acting as the propoganda arm of various governments, tells citizens eveyrthing is all right, nothing to see here, nothing to worry about there, when they know the truth is the exact opposite. ZH readers know this story well by now. Then when the bottom falls out, these citizens are screwed. They get margin calls and are broke, just like this poor sucker from China. The government won't bail out this guy despite their urging him to invest. In the end, the bank will take his farm and he and his family will become debt slaves for the rest of his life. Same story every time.
"That's no right. How can price be going down?"
"Someting wong, where's Wirson?"
"What they doing here?"
"They serring, Mortimer."
"That ridicurous...unress that crop report...."
"God herp us!"
"Wirson, where you going?"
"You idiot, get back in there at once and serr! serr! serr!"
The government givith and the government takith.
Chinese become their own victims of greed and the government just facilitates it.
The Chinese love to gamble. You would think that they would be a little smarter with their life's savings. I haven't liked the US market since 1999 when I thought stocks were overvalued. I would rather invest in myself, my family and my own business. At least I can understand where the money goes.
You are right, do the Chinese love to gamble! Once I took a fast ferry from Macau (the los Vegas of China) to Hong Kong. Many people who had lost big time in the casinos were in a very ugly mood!
Only when the PBoC orders the CSRC to indefinitely force-close mainland exchanges in the next week will the true meaning of 'Tao lao' be known to the Chinese masses.
Come on folks. One should only gamble eerrr invest the amount of money one can afford to lose, specially when the retail investor is the last hanging fruit for these predatory markets. IMO.
And one should stay away from margin-ing one's account if you're a retail gambler.
Who is this "One"? Or is it "Yuan"?
"If a man takes no thought about what is distant, he will find sorrow near at hand." Confucius
Joss Chinee, Joss
The Chinese Con-Markets won't bottom until the PBoC capitulates and sells everything at a loss, too! The PBoC could do QYuan Infinity and still not reinflate the Chinese Con-Market bubbles. And make no mistake, they are Con-Markets!
Flied lies!
"I trusted the government too much... I won't touch stocks again"
Presented without comment.
Ho Li Fuk
Sum Ting Wong
"I will sell everyting tomorrow (at any price)" sounds like textbook capitulation.
I am surprised at folks on here acting like they are superior to this set of investors, mocking them.
How many of you holding gold right now? As it sinks in fiat price? I am, but deflation then inflation is my thesis. But what if I need the bucks for an emergency I did not plan on?
How many of you riding stocks up and down on the DOW or NASDAQ? Chasing nickels in front of steam rolllers? BTFD. Because:
You down with PPT (Yeah you know me)
Who's down with PPT (Every last homie)
You down with PPT (Yeah you know me)
Who's down with PPT (All the homies)
Are we all stupid and greedy too?
Savings accounts here are punished. What to do, what to do?
There's a difference between trying to do the right thing and plan for one's future and being a greedy fuckface, risking money you didn't have and putting your family into financial ruin.
Hope my answer is not too cryptic:
Jon Corzine.
Is he our fault because we are so greedy?
Could he happen in China (God, I wish he'd pull his vaporizing shit over there).
Not everyone punished is greedy.
Not everyone uninformed/uneducated/propagandized is greedy.
I think our shit stinks worse, actually.
Their shit stinks kinda amateur, in terms of the harm greed balance you describe.
But ultimately, we are all responsible for ourselves. Them too. Which is your point, DYODD.
"How many of you holding gold right now? As it sinks in fiat price?"
You must be American. Gold does trade in other currencies you know. And it is doing ok in those currencies. The 2 year gold chart priced in Canadian $ looks pretty good.
Also Canadian miners are doing pretty good. Too bad everyone looks at only HUI, GDX and gold priced in USD.
I wonder how the average rice plucking Chinaman that dabbles in the stock market likes their version of capitalism now.
Happy Year of the Sheep!
chinese gubbermint = moar ruthless than goldman sachs.
You can't spend your whole life worrying about your mistakes. You fucked up, you trusted us...
Despite what the corrupt liars in the Federal Government, the main stream media whores (no insult intended towards honest "working" ladies) and the rich oligarchy there are almost 100,000,000 working age Americans without jobs but who are also not part of the work force. That's why the real unemployment rate in the United States is close to 25% not 5%! All to funnel more of the American People's remaining wealth to rich parasites. That's why the United States of America is going to collapse. Where do the rich parasites think that they going to be able to safely hide themselves and their families after the collapse?
To those now whining about the downturn: YOU FREAKIN IDIOTS! WHO TOLD YOU TO BORROW MONEY AND STICK IT INTO THE STOCK MARKET?! YOU HAVE A GAMBLING HABIT, THAT'S YOUR OWN FAULT!
Why do people always do the wrong thing and sell AFTER a market collapse? Why sell now? It always goes back up, maybe not as far or as fast, but selling now doesn't make sense.
From eating bugs to processed American food like China’s fav, KFC back to eating bugs in less than a generation.
Ou my... what's that? Problems in Asian paradise? :D
ha ha ha
Then why the fuck did you go into the casino in the first place? That goes for anyone who knows the fucking thing is rigged everywhere.
Did global warming make you do it?. No. Did Old Scratch make you do it? No.
You were fooled and bamboozled by a system that extracted everything you had and have done promising a little relief, a respite from a lifetime of breaking your balls for everyone else in the name of county etc.. Now take a breath and look at who benefitted. Was it you? NO. Was it your family? NO. You got shit on by a bunch of arrogant pompous asses. Maybe it's time to get angry...
'a lifetime of breaking your balls'
I think I'm going to pick-up a Lexus this afternoon. I’ll park it around the corner until September’s Debt Jubilee if the Repo man comes a look'in.
Finally, you shouldn't have listened to Jim Cramer...
At least the Chinese markets can go down. That's saying something.
very astute
Russia's ruble has been getting crushedThe ruble just erased nearly all of its 2015 gains.
On Tuesday, the Russian currency dropped below 60 per dollar for the first time since March.
The ruble is currently trading around 60.50 rubles per dollar, and got down as low as 60.88 per dollar during the day, according to Bloomberg data.
To date, the currency has tumbled over 18.5% since mid-May.
The ruble's drop follows the recent oil plunge: both Brent and WTI have fallen roughly 20% over the last six weeks. Currently, Brent is trading around $52.77/barrel, while WTI is around 47.34/barrel.
The ruble's plunge comes at an incovenient time, and puts the Central Bank of Russia in a tough spot.
So far, the bank has slashed rates four times this year, but some analysts believe that the ruble's plunge could inspire the bank to interrupt their rate-cuting agenda.
“On the one hand, the recession in the economy and extremely tight credit conditions argue for a rate cut,” Liza Ermolenko, an analyst at Capital Economics in London, told Bloomberg. “But on the other hand, easing policy at the time when the ruble is weakening sharply could cause it to fall even further, creating risks for inflation and financial stability.”
The central bank is expected to announce on Friday whether or not it will cut interests rates further.
Read more: http://www.businessinsider.com/ruble-erased-nearly-all-of-its-2015-gains-2015-7#ixzz3hDQpDVwV
The New Bolsheviks must be getting increasingly frustrated at the resliency that Putin has. They have tried numerous assasination attempts, crashing the oil market, invading Ukraine, but guess what? The people are waking up. They see the khazars for what they really are. Blood thirsy, lying savages. Their time is coming to an end.
Sir, when was the last time you visited planet Earth?
Is your real name Guy Verafstoot ?
"bad news about putin regime" is just fine.
What is not - whether or not the Tylers choose to formally prohibit it [its their sand lot] - is constant off topic copy paste trolling by someone too fucking obtsuse to understand that such an approach is not only ineffective it is counter-productive.
I would not need to post it if ZH would do that in first place. But it doesn't. For same "unknown reason" ZH always post only good or twisted news favoring putin regime - but not those bad news.
so every news site in the world has to putin bash?
its not enough that MOST of the mainstream media does so - wherever it doesnt appear, you will troll?
I mean - are you actually a paid troll?
http://www.voltairenet.org/article188199.html
http://www.voltairenet.org/article188124.html
the accusation gets tossed around so much one tends to forget that they really do exist....
news site should be objective - should be responsible and post truth. If there was a huge round of articles about how big putin deal with china on gas pipe line than there should be a follow up with huge amount of articles just how that deal is off and postponed with no dead line.
If there is a RUB crash than it should be reported. If Russian region budgets are on brink of bankruptcy - than it should be reported. If there is a huge inflation in Russia - than it should be reported. If there are huge failures in Russian army as for example 7 military planes lost in 7 weeks - it should be reported.
I don't see how that would hurt readers.
So in other words, its your job to tell the Tylers how to run their site?
Who elected you to that role?
Do you think the sites you link to are "objective"?
You keep missing the fucking point -
the type of shit you keep pasting all over articles having nothing to do with Russia is widely available. It is dominant.
TRhe **value** of ZH is **precisely** that by and large it provides a different take.
Nothing stops any of us from turning on Fox or CNN or reading the NYT and getting our daily dose of Russia bashing.
You trolling this board to supply the dominant narrative is fucking ridiculous.
in other words i do my best to stop this pro-putin regime agenda manipulation with westerner viewers
nobody asked you, you obtuse, keep missin' the point fuck.
anyone?
I didnt ask for your reply on my comment but you did it anyway... so whats your problem?
One of the things I most enjoy about ZH is the wide diversity of viewpoints that bubble forth from the comments section.
Many times, I learn more from the comments than I do from the click-bait.
I appreciate hearing from people in the neighborhood who post items about stuff that is likely to be missed or ignored by observers located elsewhere.
In this case, for example, I like to hear from the Russians. I like to hear from the anti-Russians. And then I am better able to construct my own synthesized view.
The same goes for any other crisis point anywhere in the world. It is very useful and often fascinating to hear from others who have more experience than do I.
Is there any truth to the rumor that the U. S. government surreptitiously crashed the Chinese stock market in revenge for the Chinese hack of U. S. Government computer networks? Just asking ...
I'm thinking a larger role was played by our (the West's) private equity firms (our equivalent of sovereign wealth funds) . Whether it had approval, tacit or otherwise, from the gov.
(more likely the deep state) would be interesting to know. The US mom & pop investors are not active participants in our markets, passive mostly. Without oodles of domestic
dumb money to feed on, the banksters needed another host for a meal. Then they thought "hey let's get take out, Chinese". Unfortunately they'll be hungry in an hour.
(Better watch out, Italy & Mexico!!) The Chinese gov. is trying to hold this together, what do they have to gain from instability?
"How China's Citizens Lash Out At The Broken Market, In Their Own Words" ...all 5% of them LOL!ZH is on a Chinese fear porn tear.
-
The thought of the possibility of getting money without working, always occupied the minds of fools and bankers. But the clan of bankers has always triumphed over the clan of fools.
I want new law. Anyone who sell is malicious seller except me. Others can only sell after I sell. Why government not help me.
Hmmm... sounds like big bankers in Amerika.
They need Soros's Open Society to "open" the Chinese Society as we speak.
Anyone who is still "investing" in the "markets" deserves what's coming to them -
The Chinese reaction to their falling market is no different than what the reaction would be in any other country. Wait 'till the US market has a 25% correction. Also, same reaction in Vegas. 'I'll quit when I get even.'
A billion people getting soured on American-style markets...and one more piece falls into place.
Should have put his money on black, would have had better odds...poor fool.
Well, their govt isn't much better, they still believe in those USTbills... do they seriously think they'll be worth anything by this time next year??? Seriously? Better get rid of them while the Fed and friends are still trying to keep their illusion alive... practice what you preach... take the medicine and learn your lessons.... purgatory isn't designed to have fun by the masses.
The Chinese have been dumping UST reserves.
http://www.zerohedge.com/news/2015-07-21/chinas-record-dumping-us-treasu...
So, let me get this straight: Math suddenly catches up with China but not with the U.S.?
Either U.S. bankers are shorting the Chinese market into oblivion or China popped its own market bubble. I suspect that U.S. bankers are behind this. Why else would the Chinese government's market interventions repeatedly fail?
BREAKING NEWS!!!! : QE-4 has begun!! http://www.cbsnews.com/news/new-jersey-man-drives-off-141000-in-cash-lef...
Accccident, sure it was. Helicopters soon.
The guy who left the bag o money behind was probably sleep deprived as most Americans are, and he should have realized that it is also insured and no longer his problem. Although, he probably doesn't have a job anymore...
He stays up late trolling on ZH. They said he got so upset that he had to be hspitalized. He was probably pushed by his higher ups to increase value though prodution, two of
his collegues were laid off, and to keep his job he must fill the void.
not totally OT, but Escobar article:
How China and Russia are running rings around Washington
http://mycatbirdseat.com/2015/07/how-china-and-russia-are-running-rings-...
First China, the Europe, then USSA....BE READY how long govt can prop up this steaming pile, before they start WWIII...SOME say Sept. but 2016 will be an interesting year wherevit all shakes out. I wonder if this is how it felt before the Wehrmacht rolled over country after another..we are just waiting our turn..with little damned resistance or prep for 90 percent of the sheeple. Read a great book about collapse of old Soviet Union, went there in the early 90 right after, old women sweeping the streets ..standing outside newly ope ed chuches begging ..a 20 dollar bill would keep her in groceries for a month...at least those living in the country could grow food, barter, etc..people in the cities were screwed. But therecwas little rioting ..even the military was selling its weapons to anyonevwith the price. At one point orthodox monks put on uniforms and did border patrol and guard duty. GOD ONLY KNOWS what will happen here. Russians had some real knowlege of shortages and depravation ...we do not. Going to be interesting the next few years..ifvwe let the same peoplevtake over who have SCREWD OVER the entire planet ..we deserve what we get.
same can be said for 100,000,000 Americans, but they trusted the govt. to house, feed, and educate 3 generations of their families, and they've nothing to show for it either, course they never worked either.
Chinese,
You are full of shit.
You tell your people to buy gold at $1900 then you crash the gold price in collaboration with JPM, CITI and Goldman Sachs.
Fuck you China.
I'm not buying your lies nor your Remnimbi. Fuck you suckers of elite American dick. Chinese suck bankers' dick and love it to take it up the ass from American bankers.
Cock suckers=Chinese
Chinese,
You are full of shit.
You tell your people to buy gold at $1900 then you crash the gold price in collaboration with JPM, CITI and Goldman Sachs.
Fuck you China.
I'm not buying your lies nor your Remnimbi. Fuck you suckers of elite American dick. Chinese suck bankers' dick and love it to take it up the ass from American bankers.
Cock suckers=Chinese
Fear porn rally for US equities.
ZH to the rescue.
Not much credibility here.
But what isn't a wolf in sheep cloth?
Wonder if ZH is blocked in China.
Dont think any of the tylers would be welcome for a visit.
No, ZH is not blocked, but it may be a matter of time.
Drudge Report lasted many years, but this year it was blocked along with South China Morning Post.
"... I trusted the government ..."
lol
'Tao lao' can also mean to be stuck in prison.
In Hong Kong it is known as the 'boat ride' when you cannot sell because the valuation has dropped. These stocks are called 'crab stocks' (xie huo) like a crab bound up so it cannot move.
Funny thing is that I have sold my stock 'losers' lots of times without any hesitation - yet I would never dream of selling any of my stack no matter how much PM prices get clobbered.
Am I supposed to care about Pee Chew's gambit? They"re fukin commies for fudge sake. Just like present day multiculture murika.
Anecdotal Sensationalism. Not more than 15% of household wealth is in the market.
While it is tragic for the speculators, they do not form the majority of the middle class of 200 million People.
How the market under asinine martial law type intervention has no effect on the aggregate consumuption power that will be affected by other factors.
Do not use greed that ends in disasters to spin collapses. Prove your case with hard data.
Capitulation, anyone?
Eventually, we'll hear such talk in America -- again -- as well! Babylon the Great shall fall -- again!