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Presenting The Annotated Chinese Equity Bubble Timeline
To call the last three months a "rollercoaster" for Chinese equity investors would be to offer a hopelessly inadequate and comically understated assessment of what has truly been one of the most incredible examples of bubble blowing gone horribly awry in the history of speculative frenzies.
Make no mistake, the writing was on the wall all along and once it became apparent that around a third of the millions of new day traders China was minting on a weekly basis had an elementary school education or less, genuine concern turned to stunned amusement and the astonishment only grew once word got out that margin debt in China was quite literally off the charts.
In short, millions of semi-literate day traders had employed an unprecedented amount of leverage on the way to inflating a world-beating equity rally and would you believe it, not only did China not move quickly to curtail the frenzy, the PBoC actually began easing into a stock market rally for the first time in its history.
Now, as the ashes of the country’s scorched equity markets lay smoldering at the feet of the plunge protection national team which finally gave up on rescuing the market after CNY900 billion proved inadequate to arrest the slide, and on the heels of the PBoC’s latest effort to staunch the bleeding by resorting to yet more policy rate cuts, we bring you the full, annotated SHCOMP market and policy timeline courtesy of Bloomberg:
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Rorrercoaster of ruv!
Oil close at 38.67 (low of day), DOW up 540.
The roller coaster car is one place and the rider is in another.
Come get your tickects to "Rampfest 2015" brought to you by PPT. It's a great line up featuring, the new hit bands, "Buy The Fing Dip", "Yellens Got your hairy back", "We don't need No Fundamentals", and "Hedge Funds Matter". You must be a satanist to enter, we will be checking.
There'll be more to come since the Chinese leadership will never be exposed to the above graphic.....
And if you're a CNBC employee, you get a backstage pass.
Widespread sharing of killer's 'snuff' video under fire
http://tinyurl.com/netmhzm
Oh. For a second there I thought it read "Cheese Equity Bubble". THEN I would have read the article.
hahaha....Commie Crapitalism at its best !
Sum Ting Wong
swing dip no wong
Anybody else have a hard time with eyes seeing ZH Charts and Tables due to them being too small or even blurry??
Tyler?
To-Get-Rich-Quick-Is-Glorious is the ROOT of all evils.
CNY900 billion, what's that like $50.
Life is short. That was quick.