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Chinese Man Jumps From 17th Floor In First Stock Market Casualty

Tyler Durden's picture




 

It appears the collapse of China's stock market has officially taken its first victim. While we have heard from desperate farmers who lost everything after realizing that making money in stocks is not easier than farmwork, RT reports that a 57-year-old man has allegedly committed suicide in Shenyang, the largest city in Liaoning Province, by jumping off the 17th floor of a building with a black briefcase "full of stock-related materials," local press reported.

As we previously heard from one Chinese farmer,

From the hope-filled exuberance of early June to Yang Cheng's utter hopelessness, "I have lost everything," after he followed the government's 'grand plan' to open the economy and encourage stock market speculation.

 

Having piled his life savings (plus his relatives' money) into the market, thanks to encouragement from his broker he borrowed $1 million in margin and bet it all on one stock - a local mining company.

 

Now, after being forced to liquidate by the same risk-encouraging brokerage, he has suffered catastrophic losses... and he is not alone...

 

"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."

And now, as RT reports, it appears the crash has claimed its first victim,

A 57-year-old man has allegedly committed suicide in Shenyang, the largest city in Liaoning Province, by jumping off the 17th floor of a building, possibly in response to a recent stock market crash in China, local press reported.

 

The building belongs to the city’s Chamber of Commerce and the 17th floor hosts a security exchange center, China.org reported citing a local newspaper. The incident took place Tuesday afternoon at around 2:00 p.m.

 

According to a witness, a black briefcase ‘full of stock-related materials’ was found on the ground next to the body of the man who was reportedly identified as a local resident.

 

While authorities are investigating the reason for the dive, it has been suggested that the suicide was connected to the recent stock market crash.

Be careful who you tell about this though...

Last month, Chinese authorities arrested a man who had allegedly been spreading rumors about people jumping off buildings in Beijing because of a stock market crash, China Central Television reported. The 29-year-old man allegedly wrote on social media that “there are people, because of the stock market crash, who have jumped off buildings in Beijing’s Financial Street.”

 

The post in question disappeared the day after it was created, thought to have been deleted by the state censors. Its author was detained for “disorderly behavior.”

*  *  *

Who's next?

 

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Thu, 08/27/2015 - 13:43 | 6478161 Smegley Wanxalot
Smegley Wanxalot's picture

Video?

Did he jump from his hairdresser's advice studio?

Thu, 08/27/2015 - 13:45 | 6478173 SheepRevolution
SheepRevolution's picture

Can someone please push Jamie Dimon out of his window?

Thu, 08/27/2015 - 13:46 | 6478181 walküre
walküre's picture

... he didn't buy the dip...

Thu, 08/27/2015 - 13:50 | 6478199 Freddie
Freddie's picture

He should have gotten a job in a Chinese factory making nail guns for suppliers to Home Depot and Lowes.

Thu, 08/27/2015 - 13:58 | 6478221 jcaz
jcaz's picture

Sound he made when he hit- "Ping".......

Thu, 08/27/2015 - 14:10 | 6478265 remain calm
remain calm's picture

Ho Li Fuk

Thu, 08/27/2015 - 14:41 | 6478410 StackShinyStuff
StackShinyStuff's picture

Jum Pyu Fuk (ers)

Thu, 08/27/2015 - 14:59 | 6478427 MANvsMACHINE
MANvsMACHINE's picture

He had Hillary's hard drive in the briefcase.  She told him to not let it out of his sight and find a way to destroy it beyond repair.  He was just following orders.

Thu, 08/27/2015 - 14:21 | 6478309 Greater Fool
Greater Fool's picture

"Sprat."

Thu, 08/27/2015 - 14:27 | 6478351 prefan4200
Thu, 08/27/2015 - 14:00 | 6478229 robertsgt40
robertsgt40's picture

Time to go long on the folks that manufacture netting used in circuses.  Need to find out who Apple uses in their Chinese facilities.

Thu, 08/27/2015 - 13:49 | 6478197 KnuckleDragger-X
KnuckleDragger-X's picture

Dimon deserves no less than a public execution in front of cheering crowds......

Thu, 08/27/2015 - 14:21 | 6478311 TeamDepends
TeamDepends's picture

Yes (rolls eyes), you can be buried with your cufflinks.

Thu, 08/27/2015 - 14:40 | 6478408 thismarketisrigged
thismarketisrigged's picture

if i had my choice, blankfein would be the first to be pushed with dimon a close 2nd. either one would be a very good start.

Thu, 08/27/2015 - 14:00 | 6478225 firstdivision
firstdivision's picture

What an asshole.  He could've handcuffed himself to a few other brokers and taken them with him.

Thu, 08/27/2015 - 14:34 | 6478389 Son of Loki
Son of Loki's picture

He threw away his life, it seems.

Thu, 08/27/2015 - 13:43 | 6478164 This is it
This is it's picture

Not banker?

Thu, 08/27/2015 - 13:45 | 6478170 El Oregonian
El Oregonian's picture

I guess jumping into the markets can lead to jumping out of buildings?

Thu, 08/27/2015 - 14:03 | 6478241 813kml
813kml's picture

He found the market bottom.

Thu, 08/27/2015 - 14:13 | 6478273 TeamDepends
TeamDepends's picture

In modern Keynesian market, bottom finds you.

Thu, 08/27/2015 - 14:55 | 6478475 Winston Churchill
Winston Churchill's picture

Het did hit his stops.

Thu, 08/27/2015 - 15:45 | 6478680 Implied Violins
Implied Violins's picture

There was no dead cat bounce. I guess he skipped lunch.

Thu, 08/27/2015 - 13:47 | 6478185 Freddie
Freddie's picture

Probably had some charts from Cramer in his briefcase.

Thu, 08/27/2015 - 13:54 | 6478186 Dr. Engali
Dr. Engali's picture

A nail gun to the back of the head would have been much cleaner.

Thu, 08/27/2015 - 13:51 | 6478200 Jackagain
Jackagain's picture

Silly orientals...here in the west the bankers are thrown from buildings.

Thu, 08/27/2015 - 13:58 | 6478214 JustObserving
JustObserving's picture

Incidentally, that is the preferred CIA method for assassinations

Thu, 08/27/2015 - 13:52 | 6478206 aliki
aliki's picture

more "transitory" issues at caterpillar:

Caterpillar plans to lay off 475 more employees due to declining sales, Reuters reports

Caterpillar plans to cut 475 more jobs in an effort to cut costs amid declining revenues from global mining and construction activities, Reuters reports, citing a statement from company spokeswoman Lisa Miller. The move comes after the company announced 270 job cuts for Illinois employees, the report says.

http://www.reuters.com/article/2015/08/27/us-caterpillar-layoffs-idUSKCN0QW29520150827?feedType=RSS&feedName=businessNews

Thu, 08/27/2015 - 13:53 | 6478208 JustObserving
JustObserving's picture

Jump Dimon, jump Blankfein. Be patriots for a few seconds of your lives, 

Thu, 08/27/2015 - 14:05 | 6478249 Miffed Microbio...
Miffed Microbiologist's picture

They are having too much fun throwing other people off buildings. Hopefully some Patriots will emerge and fling the psychopathic rats over the edge.

Miffed

Thu, 08/27/2015 - 13:55 | 6478212 Government need...
Government needs you to pay taxes's picture

My takeaway here is that if the globalists win the ongoing war, we'll be a LOT more heavily censored. . .

Thu, 08/27/2015 - 13:57 | 6478218 The Bell Rang
The Bell Rang's picture

Tragic.  Someone may have a warped sence of humor if this holds as the C wave top. The Dow just printed  16666.69

Thu, 08/27/2015 - 14:17 | 6478291 TeamDepends
TeamDepends's picture

I saw Satan laughing with delight
The day the music died

Thu, 08/27/2015 - 15:37 | 6478633 Bastiat
Bastiat's picture

WTF?  This is getting weirder by the day.

Thu, 08/27/2015 - 13:59 | 6478222 I AM SULLY
I AM SULLY's picture

He should have just held on a bit longer ... things were about to turn around.

https://www.youtube.com/watch?v=VlVmdGiAH2A

Thu, 08/27/2015 - 14:01 | 6478232 Bill of Rights
Bill of Rights's picture

Death by Margin...

Thu, 08/27/2015 - 14:03 | 6478242 Ms No
Ms No's picture

They are always killing themselves or expiring over sewing machine at 12 yo, China is a sick place.

So, are commodities reversing from the dollar on the same day that it hits mainstream that China is dumping treasuries?  WTF over?

Thu, 08/27/2015 - 14:04 | 6478243 taketheredpill
taketheredpill's picture

Short 1 unit of Hope and Long 2 units of Sidewalk...

Thu, 08/27/2015 - 14:04 | 6478244 large_wooden_badger
large_wooden_badger's picture

He should have taken a job at FoxConn. They have measures in place to prevent this sort of thing.

Thu, 08/27/2015 - 14:06 | 6478250 taketheredpill
taketheredpill's picture

In Toronto we call this a Garry Hoy".

 

Thu, 08/27/2015 - 14:07 | 6478256 Berspankme
Berspankme's picture

I spent a lot of time in Shenyang. It's not unreasonable to kill yourself just for being there

Thu, 08/27/2015 - 14:28 | 6478292 Elio
Elio's picture

Too bad that he isnt too big to fail there for his life means nothing.

Thu, 08/27/2015 - 14:20 | 6478298 Chuck Knoblauch
Chuck Knoblauch's picture

Play that funky music, white boy.

https://www.youtube.com/watch?v=qe1ScoePqVA

Thu, 08/27/2015 - 14:25 | 6478334 timeless21
timeless21's picture

Lesson learned: better trade bananas

Thu, 08/27/2015 - 14:25 | 6478339 large_wooden_badger
large_wooden_badger's picture

Did the onlookers wait for the bounce?

Thu, 08/27/2015 - 14:37 | 6478397 Son of Loki
Son of Loki's picture

Te needed moar patience. China's CB still has not caught on to the where's and how's of,"The Joys of Stawk Manipulation," co-authored by Alan Greespun and Ben S. Bernanke.

 

When they do figure it out, their stawk market will be at 20,000 easily.

Thu, 08/27/2015 - 14:38 | 6478404 buzzsaw99
buzzsaw99's picture

first rule: you do not talk about flight club

Thu, 08/27/2015 - 14:40 | 6478407 sTls7
sTls7's picture

In 'government we trust'  ?  

Thu, 08/27/2015 - 14:40 | 6478411 U4 eee aaa
U4 eee aaa's picture

borrowed a million dollars to buy one stock?

So basically he went to the roulette wheel and bet it all on black. This is nothing more than pure gambling made big. He probably would have put it on a wheel but the government would never let him borrow that kind of money to gamble on roulette...'because that would be considered crazy'

So who was the clown that took this guy's order? No checks in place there? Did no one see this order go through and raise eyebrows.

Isn't it amazing how these things are always OK when the stocks (houses, tulip bulbs) are rising but everyone can see what a stupid move it is when the bubble pops?

Thu, 08/27/2015 - 14:44 | 6478425 Bunga Bunga
Bunga Bunga's picture

He got inspired by the charts.

Thu, 08/27/2015 - 14:47 | 6478440 youngman
youngman's picture

I guess he got rid of his margin account with that jump

Thu, 08/27/2015 - 14:48 | 6478445 loregnum
loregnum's picture

So these people got into a market after it went up what, 60% in half a year then dealt with the big drop since then and I am supposed to feel sympathy for them because they didn't have the brain power to grasp that something that goes up 60% in half a year probably isn't wise to put your life savings into? Hilarious if that margin guy who put it all in one stock actually had a nice gain early and didn't cash out because he was greedy.

But hey, let's just blame everyone else because we couldn't use our pea-sized brains to figure out something so simple. Just another example of this modern world and how it's the blame game bullshit and nobody ever looking to think for themselves. After all, they are too busy with their cell phones and other gadgets to deal with the hardship of thinking for themselves.

Thu, 08/27/2015 - 14:54 | 6478473 All is chosen
All is chosen's picture

A fair bet that no nailgun toting hit person risked their life 'helping' this unfortunate being?

Thu, 08/27/2015 - 14:56 | 6478476 large_wooden_badger
large_wooden_badger's picture

Confucius say, man who leap from building, jump to conclusion

Thu, 08/27/2015 - 15:28 | 6478597 Jethro
Jethro's picture

RIP Mr. Sprat

Thu, 08/27/2015 - 15:45 | 6478679 Stevious
Stevious's picture

First?  I think not.  Maybe the first case that's managed to get past censorship.

At least they are Chinese.  Were this the Japanese, me thinks they'd be like Lemmings.

Thu, 08/27/2015 - 16:07 | 6478791 Downtoolong
Downtoolong's picture

 

jumping off the 17th floor of a building with a black briefcase "full of stock-related materials"

 

Maybe he thought he could fly after the government reassured him that it would never let his stocks go down.

  

Thu, 08/27/2015 - 16:53 | 6479001 ali-ali-al-qomfri
ali-ali-al-qomfri's picture

did he land on banana cart man?

Thu, 08/27/2015 - 20:07 | 6479490 Ginsengbull
Ginsengbull's picture

Please, if anyone else out there is considering this way out, think of the poor bystanders.

 

At least do a flip.

Fri, 08/28/2015 - 01:02 | 6480298 onmail
onmail's picture

I stopped buying stocks 20 years ago

Peace......

Enjoy

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