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Chinese Stock Market loses $3 TRILLION in a month

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  • Jul 9th, 2015 8:28 pm
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[OP]
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Chinese Stock Market loses $3 TRILLION in a month

Forget the latest Greek crisis, this is HUGE:

Chinese Stock Market loses $3 TRILLION in a month. Many of China's poorest have, with government encouragement, poured their modest savings into the stock market, and now face the prospect of losing it all. The corporate impact will likely result in huge numbers of layoffs. The HK Stock Market is rapidly selling off Chinese shares. Other major world stock markets have stopped trading in Chinese stocks. With all those people impacted, and many now facing unemployment, what's next?

(Possibly unrelated, but the NYSE was shut down for a while this morning due to "computer glitches". Other "glitches" experienced at United Airlines and the Wall Street Journal website. Homeland Security are investigating...).

What's going on? Is the world economy falling much further than anybody could have possibly imagined? If China's losing that much wealth, what will the spillover effects be on Canadian real estate? On the world economy in general?

HUGE.
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Jan 12, 2012
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Tornado F2 wrote: Forget the latest Greek crisis, this is HUGE:

Chinese Stock Market loses $3 TRILLION in a month. Many of China's poorest have, with government encouragement, poured their modest savings into the stock market, and now face the prospect of losing it all. The corporate impact will likely result in huge numbers of layoffs. The HK Stock Market is rapidly selling off Chinese shares. Other major world stock markets have stopped trading in Chinese stocks. With all those people impacted, and many now facing unemployment, what's next?

(Possibly unrelated, but the NYSE was shut down for a while this morning due to "computer glitches". Other "glitches" experienced at United Airlines and the Wall Street Journal website. Homeland Security are investigating...).

What's going on? Is the world economy falling much further than anybody could have possibly imagined? If China's losing that much wealth, what will the spillover effects be on Canadian real estate? On the world economy in general?

HUGE.
maybe people will slowly realize that Greece isn't the biggest issue out there.... We're just the scapegoat right now and the EU likes to pick on them... "oh Greece owes us money" http://www.nytimes.com/2015/07/08/busin ... reece.html

Please, Germany, France, they had debts way bigger then Greece ever did and Im not sure but I read somewhere that they never paid off their own debts.
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ah...so it finally hit mainstream media...lol.

Asian news media has been reporting this for 2 weeks now :)
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May 30, 2012
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BC
Drew87 wrote: maybe people will slowly realize that Greece isn't the biggest issue out there.... We're just the scapegoat right now and the EU likes to pick on them... "oh Greece owes us money" http://www.nytimes.com/2015/07/08/busin ... reece.html

Please, Germany, France, they had debts way bigger then Greece ever did and Im not sure but I read somewhere that they never paid off their own debts.
right....blame others for your own mistakes....how original
[OP]
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Drew87 wrote: maybe people will slowly realize that Greece isn't the biggest issue out there.... We're just the scapegoat right now and the EU likes to pick on them... "oh Greece owes us money"

Please, Germany, France, they had debts way bigger then Greece ever did and Im not sure but I read somewhere that they never paid off their own debts.
Not to minimise Greece's problems, (Retirement in your 50s? Really? You're broke!) but the German government's attitude does seem a bit much considering that much of their debt was forgiven post-war, and during the war itself they of course invaded and occupied much of Europe, including Greece. Nobody helped Britain out with its huge war debt either - racked up defeating the Nazis and freeing much of Europe from them. (The French treasury stayed safe and untouched in US banks). Now Germany and France think they run Europe...

Anyway, staying on-topic, this thread is about those HUGE Chinese losses. Whatever Greece's total debt is, it's tiny by comparison. $3 trillion. $3,000,000,000,000. In one month.
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Jan 12, 2012
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iownyou wrote: right....blame others for your own mistakes....how original
or right, pick on a country that hasn't been in a position that other countries haven't been in themselves (and even worse positions at times) and were treated better at the time... But yes, please, lets act ignorant to history.

Go on man. I'm not going to post in this topic any more.
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Jan 12, 2012
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Tornado F2 wrote: Not to minimise Greece's problems, (Retirement in your 50s? Really? You're broke!) but the German government's attitude does seem a bit much considering that much of their debt was forgiven post-war, and during the war itself they of course invaded and occupied much of Europe, including Greece. Nobody helped Britain out with its huge war debt either - racked up defeating the Nazis and freeing much of Europe from them. (The French treasury stayed safe and untouched in US banks). Now Germany and France think they run Europe...

Anyway, staying on-topic, this thread is about those HUGE Chinese losses. Whatever Greece's total debt is, it's tiny by comparison. $3 trillion. $3,000,000,000,000. In one month.
Glad to see SOME people understand this.

But I'll stay out if this thread because I know Nothing about the Chinese situation. Although I do remember seeing people saying this was inevitable even in China.
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May 30, 2012
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Drew87 wrote: or right, pick on a country that hasn't been in a position that other countries haven't been in themselves (and even worse positions at times) and were treated better at the time... But yes, please, lets act ignorant to history.

Go on man. I'm not going to post in this topic any more.
it's not about picking on a country....its about owning up to your mistakes.....
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Drew87 wrote: or right, pick on a country that hasn't been in a position that other countries haven't been in themselves (and even worse positions at times) and were treated better at the time... But yes, please, lets act ignorant to history.

Go on man. I'm not going to post in this topic any more.
If you want to discuss Greece, you should create/find a different thread. I must point out though that while other countries have had larger debts, they also had much larger populations and much more productive economies than Greece's. Your country really is in a mess and needs to put in the hard work to get out of it. Or go back to lounging in the sun, watching goats graze, and rapidly being left behind.

Anyway, back to CHINA...
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iownyou wrote: it's not about picking on a country....its about owning up to your mistakes.....
"mistakes" is subjective. Look at the Canadian economy right now and the US econonmy for decades now, BOTH tanking. How massive is the USs debt?

Does Canada or the US own up to their mistakes? "Hard work" isn't the answer to anything, being "productve means squat if you're not enjoying life.

People hate on European countries because they BALANCE both. do they have debts? sure.

Honest question.
[OP]
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$3 trillion. $3,000,000,000,000. In one month.

Just look at those numbers. That's $100 billion lost in a day - followed by 29 equally disastrous days. And no sign of it ending any time soon.

ENORMOUS.
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Tornado F2 wrote: $3 trillion. $3,000,000,000,000. In one month.

Just look at those numbers. That's $100 billion lost in a day - followed by 29 equally disastrous days. And no sign of it ending any time soon.

ENORMOUS.
via the wall street journal

HONG KONG—Contagion from the plunge in Chinese stocks spread Wednesday in a sign investors within China and overseas are losing confidence in Beijing’s ability to stem the slide in the country’s equity markets and manage its economic reforms.

Shares listed on the country’s main Shanghai market dropped 5.9%, deepening a slump that has seen the market fall by nearly a third since mid-June.

The gloom is no longer confined to stocks. The yield on China’s benchmark government bonds rose sharply, while investors unloaded billions worth of dollar-denominated debt issued by Chinese companies. China’s currency, the yuan, fell to a four-month low in offshore markets, while a global selloff in commodities continued, with oil down in early Asian trading and metals such as copper trading close to six-year lows.
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Ummm..didn't anybody bother to see how much it went up by before?
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Any market which has gains of 150% in 12 months is bound to correct!
[OP]
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thelefteyeguy wrote: ah...so it finally hit mainstream media...lol.

Asian news media has been reporting this for 2 weeks now :)
TWO WEEKS? And none of RFD's China-based members bothered posting? Not even those with relatives there?

Too busy selling off their own investments probably.
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smacd wrote: Any market which has gains of 150% in 12 months is bound to correct!
A poster above mentioned that this is a collapse of 33%. And it's ongoing. This is more than a "correction". And for many millions of poor Chinese investors this is probably a disaster.
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time to start selling off your Toronto and Vancouver real estate Chinese nationalists.....you're going to need to free up some cash flow.


edit - FINALLY out of the penalty box. I'm not gonna lie...being on the inside for 8 months has changed me.

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