Not To Be Left Out, China Announces Its Own Bank And Stock Market Bail Out

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Mon, 10/10/2011 - 10:50 | 1757441 Mongo
Mongo's picture

Global keynesian brain damage syndrome

Mon, 10/10/2011 - 10:57 | 1757471 mfoste1
mfoste1's picture

maybe big pharma will deem a new disease called "keynesian sickness".....long pharmas

Mon, 10/10/2011 - 11:18 | 1757575 DeadFred
DeadFred's picture

After a depressing morning watching the euro soar through all manner of resistance a nice thought occured to me, maybe the Slovaks will ratify the bailout and then the markets will turn and stop their climb.

Really, financials are up 3.7% today, really?

Mon, 10/10/2011 - 11:55 | 1757715 Ancona
Ancona's picture

I see we've gone full on slapstick comedy today. WTF??

Up 286 on shit for volume? Man, I 'coulda been a contender.

Mon, 10/10/2011 - 12:06 | 1757771 Troll Magnet
Troll Magnet's picture

BURN CHINA! BURN!!!

Mon, 10/10/2011 - 12:13 | 1757799 espirit
espirit's picture

Ponzi on.

Mon, 10/10/2011 - 12:21 | 1757835 RSloane
RSloane's picture

Yup. So much for the markets being wiped out today. Its nothing short of mind-boggling.

Mon, 10/10/2011 - 11:48 | 1757685 jdelano
jdelano's picture

This market has the memory of a goldfish.  How many times have we done this now?  Here we are slamming against the ceiling at S&P 1190, but everybody's still absolutely convinced it's a real rallly.   The presses are rolling! Europe's saved! Game on!    

(Just doubled my puts.  market 180 time.  see you at 1080 when everyone will be screaming, "there's no bottom to this, there's no bottom!!!)

 

heeheehee, morons.  

Mon, 10/10/2011 - 13:17 | 1758062 covert
covert's picture

bailouts lead to more, etc. esentually, it's a domino effect leading to global poverty.

part of the lemming effect, more shorting to come.

http://expose2.wordpress.com

 

Mon, 10/10/2011 - 10:53 | 1757452 GeneMarchbanks
GeneMarchbanks's picture

At least we know who owns who in China.

Mon, 10/10/2011 - 11:12 | 1757540 CosmicBuddha
CosmicBuddha's picture

Or indeed and, more to the point, who owns Hu.

Mon, 10/10/2011 - 11:35 | 1757636 Hobbleknee
Hobbleknee's picture

And more importantly, Hu Flung Pu.

Mon, 10/10/2011 - 11:59 | 1757740 Troll Magnet
Troll Magnet's picture

Hulu?

Mon, 10/10/2011 - 10:53 | 1757453 dick cheneys ghost
dick cheneys ghost's picture

Governments only do what Banksters tell them to do.................

Mon, 10/10/2011 - 11:05 | 1757497 kito
kito's picture

not in china bro. the govt is the bank

Mon, 10/10/2011 - 11:33 | 1757633 SheepDog-One
SheepDog-One's picture

This is actually quite humorous from an Oriental mindset....theyre NOT 'bailing out' anything....they just threw a trump card in Europes face!

You talk about bailing out...OK we bail out too, negating you, SUCKERS!!

Mon, 10/10/2011 - 11:40 | 1757655 Hobbleknee
Mon, 10/10/2011 - 10:53 | 1757454 Irish66
Irish66's picture

 waited all day for China and Putin

Mon, 10/10/2011 - 10:53 | 1757456 Caviar Emptor
Caviar Emptor's picture

I was just predciting this on the last thread: China will join the US and ECB in printing Trillions. 

 

Mon, 10/10/2011 - 11:08 | 1757507 SheepDog-One
SheepDog-One's picture

So they keep moving the decimal point to the right....so what? Means nothing to anyone but the top .001%.

Mon, 10/10/2011 - 11:36 | 1757639 Panafrican Funk...
Panafrican Funktron Robot's picture

Long term holders of physical gold at least have some comfort in the non-destruction of their real wealth.  In that sense, meaning is present here.  I think I share the opinion of the most of us who are correctly prepared in not wishing what's coming to actually occur.  It's a slow motion train wreck, and stupidity is entertaining to a point, but this is starting to get dangerously close to actually breaking down, and that is frankly a grim, if unavoidable, thought.  

Mon, 10/10/2011 - 10:54 | 1757457 moskov
moskov's picture

Most of the Chinese would be satified with this. It's far better than baiting out US treasury bonds

Mon, 10/10/2011 - 10:54 | 1757459 mn1
mn1's picture

the Dow will go to 36,000 just give it time....and please continue your negative articles coming...theres nothing like freaking out people to dump so you can pick it up on the cheap...

Mon, 10/10/2011 - 10:56 | 1757464 GeneMarchbanks
GeneMarchbanks's picture

It won't matter with the DXY @ 40.

Mon, 10/10/2011 - 11:14 | 1757551 Hedgetard55
Hedgetard55's picture

+55

 

DOW at 35,000 means gas at $20, and no economy, jobs, law and order, etc.

Mon, 10/10/2011 - 11:24 | 1757599 dracos_ghost
dracos_ghost's picture

But the elites will have their crappy sovereign debt reallocated to taxpayer backed stock prices.

Mon, 10/10/2011 - 10:59 | 1757477 Johnny Lawrence
Johnny Lawrence's picture

I really hope you don't manage anyone's money.  Using an internet blog as a contrarian indicator is pure idiocy.

Mon, 10/10/2011 - 11:09 | 1757518 SheepDog-One
SheepDog-One's picture

DOW 36,000 also means gas $40 a gallon and trip to the store for the week costs around $12,000....OK bring it on whatever!

Mon, 10/10/2011 - 11:46 | 1757675 Kina
Kina's picture

With the DOW at 36,000 one USD would be worth a teaspoon of dog shit. Enjoy cashing in your 'wealth' in pounds of dog shit.

 

 

Mon, 10/10/2011 - 10:56 | 1757462 HANKREARDON
HANKREARDON's picture

We are all socialists now.

Mon, 10/10/2011 - 10:56 | 1757463 monopoly
monopoly's picture

And here come the flippers.

Mon, 10/10/2011 - 10:57 | 1757466 Caviar Emptor
Caviar Emptor's picture

Banks are the easiest problem to solve in China. They're going to need trillions more as the economy totters especially in second-tier cities (which are huge) and smaller cities (lots of them). And the Fed is still doing Pomos, Obama and Congress will announce trillion+ stimuli imminently, ECB needs trillions to bail its own governments out so they can bail out their banks and their citizens.....we gonna need a bigger printing press

Mon, 10/10/2011 - 11:11 | 1757523 SheepDog-One
SheepDog-One's picture

'So they can bail out the banks, and their citizens'....LOL no ones bailing out their CITIZENS at all!

Mon, 10/10/2011 - 10:57 | 1757468 John Law Lives
John Law Lives's picture

DJIA up 900+ points off its intraday lows in the last 5 trading sessions.  Nothing like a pump job based upon rumors of bailouts.

FUBAR market.

Mon, 10/10/2011 - 11:09 | 1757515 HelluvaEngineer
HelluvaEngineer's picture

I just got a friggin' margin call!  First ever.

Mon, 10/10/2011 - 11:14 | 1757550 John Law Lives
John Law Lives's picture

I got a one of those about 10 years ago when I used to trade stocks. I even got a few phone calls from my broker telling me to sell stock or deposit cash ASAP or they would liquidate my other position(s) until I was whole again. Scary when it happens. Alas, I no longer trade stocks. The little guys are seriously outgunned these days, and the SEC doesn't give a damn.

Mon, 10/10/2011 - 11:26 | 1757611 HelluvaEngineer
HelluvaEngineer's picture

Well, it was just an email (for now), and not that much money, but completely related to the 5% run in high beta momos that I'm shorting.  This market is completely insane.

Mon, 10/10/2011 - 11:39 | 1757647 John Law Lives
John Law Lives's picture

I seems obvious that Central Banks are establishing policy with the intention of pumping markets.  What a joke.  Governments don't know how to solve REAL problems like high unemployment and massive deficit spending, so Central Banks create more fiat currency and goose the stock markets.  No wonder so many people are cynical.

Mon, 10/10/2011 - 10:58 | 1757469 Wu Qi Ming
Wu Qi Ming's picture

This explains the very brief mention of an upcoming extraordinary share holders meeting of Industrial Commercial bank of China where they plan to discuss new share issuance AND short term bond generation on the Chinese english speaking media today.

Mon, 10/10/2011 - 11:00 | 1757473 achmachat
achmachat's picture

I have a smallish investment in China and because I knew that this was going to happen sooner or later, my investment profits get changed to gold at the end of each month.

I was not comfortable with heaps of RMBs just sitting there waiting for me.

 

edit: yes, this means that I actually have a small side-income that comes in gold! I feel so barbarian!

Mon, 10/10/2011 - 11:11 | 1757533 SheepDog-One
SheepDog-One's picture

Good luck just trying to keep even, be nimble...VERY nimble!

Mon, 10/10/2011 - 11:14 | 1757548 achmachat
achmachat's picture

i did better than keep even. As of a few weeks ago, it's already paid me back what i had invested.

 

Mon, 10/10/2011 - 10:59 | 1757476 Fips_OnTheSpot
Fips_OnTheSpot's picture

Yield in cocaine nowadays? ;)

Mon, 10/10/2011 - 11:08 | 1757511 maxw3st
maxw3st's picture

Very high according to the Mexican drug cartels.

Mon, 10/10/2011 - 10:59 | 1757478 PulauHantu29
PulauHantu29's picture

Right Ball.

Left Ball.

Dick in the Middle.

 

Why not?

Mon, 10/10/2011 - 11:10 | 1757520 HD
HD's picture

If that's accurate I gotta see a doctor!! I wondered what all the pointing and laughing was about...

Mon, 10/10/2011 - 10:59 | 1757479 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

"To anyone still believing that capital markets around the world express something other than government industrial policy"

fixed it.

This is a corpocracy after all (fascism)

Mon, 10/10/2011 - 11:00 | 1757480 jekyll island
jekyll island's picture

Did these banks pass the initial stress test too?  

Mon, 10/10/2011 - 11:00 | 1757482 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

hmmm...I was supposed to have crossed out the world government

Mon, 10/10/2011 - 11:00 | 1757483 Lady Heather...UNCLE
Lady Heather...UNCLE's picture

...another mistake...signing off...sorry all. Good luck out there

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