Tuesday with Chris
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Chris has some interesting thoughts on tomorrow’s Fed Meeting.
I guess he forgot……………….you do not bet the FAMILY FARM on a manipulated affair, and you never bet your food and shelter.
Yes Frank but the average Chinese farmer investor is like the proverbial shoe-shine boy of the 20s. …Protected by no-one.
Yep “don’t bet the farm” is a saying for a reason. Many did it in the roaring 20’s to disastrous effect starting from 1929 into the great depression of the 1930s dust bowl.
It appears, this is the Chinese version of that same story. Roaring bubble to bust.
It’s interesting this Chinese situation because has the Chinese market not even reached the 2008 high before this bust?
In that case then Shanghai has already been in a bear market for seven years.
More than sad, Reverend. I guess that one of the Ten was, indiirectlly, thou shalt not be greedy!
Yes Al along with thou shalt not be gullible.
This is a stupid guy who deserves what he got. He did not know at 5000 Chinese market is way over valued. Maybe did not care. I sold half of my position when market reached 5200. I started to sell at 3300 where I consider fair valued.
Of course he was stupid Lawrence while you’re sophisiticated. But he should never have been lent a million bucks.
Interesting 3 commentaries so far today from Gary, Rick and Chris.
Rick and Chris sound as if they are both saying to be wary of these markets, stay in cash or, in Rick’s case, T-bonds and just wait. Meanwhile, Gary is expecting a tradeable sizeable rally in the precious metals.
I found all 3 commentaries fascinating to listen to and all provided much food for thought.
the media hype in the West re china is ridiculous.
What percentage of the Chinese pop is in the stock market..??
Im surprised by zero hedge on this…maybe the chinese will return to gold…
Or maybe Chinese who have suffered losses on conventional stocks, and/or who have got margin calls, will be forced to sell gold?
Either is possible…though the gold sales would be less likely to come from the hoi polloi, and more likely to be forced sales from bigger players.
Not that any of that gold would come onto the world market anyway. As far as I know its still illegal to export gold out of China. So no extra supply and no net market impact. They do however play the futures trades and are more than capable of moving prices in the wee hours of the morning as we saw a week ago. 🙂
So basically…the Peoples Bank would be in a position to mop up any surplus gold hitting the Chinese market as it has nowhere else to go in the absence of their domestic investment demand.
None of my friends play stock market in China as i know of. They all live in city and well educated. A few of them are in elite rank. My family don’t play stock either and my father warns me just run when I make a profit. Don’t get stuck. They all believe stocks are controlled by powerful people and you play to lose.
They call stock market ATM for the indiders
Off message: Greece’s biggest mistake:
http://www.zerohedge.com/news/2015-07-28/greeces-biggest-mistake-explained-1-cartoon
Be ready to weep for millions: ‘I have ruined everyone in my family’…Chinese farmer who loses everything by borrowing $1 million.
http://www.zerohedge.com/news/2015-07-28/how-chinese-farmer-lost-more-everything-trading-stocks.