No, I'm not talking about the break up of One Direction, but the financial markets plummeting in China and across Asia,Russia as well as in the West.
http://www.bbc.co.uk/news/live/business-34002662
Many are expecting a crash about now anyway, as we have coming to the end of the 7-11 year business cycle. The FTSE 100 has fallen from over 7000 in May to under 6000 today.
Do you think this is another '08 type crash coming except originating in China this time?
Last edited by The Hand; 24-08-2015 at 03:03 PM.
Not yet, this is just the market getting the willies, people have been making absurd returns in the state semi-controlled chinese stock markets.
They've done all sorts to keep the gains artificially high, from controlling the short selling (always a bad sign) to encouraging every citizens to invest money that they can't really afford to lose.
The Shanghai Composite was trading in June at double what it was a year back. What rises swiftly can fall even faster.
What's happening now is lots of people who've rushed in, joined the party a bit late, are not rushing out. There are also comments about a lack of faith in the domestic chinese market, which is so crudely measured by the official government stats, no one really knows.
At the moment at best we'd see a dom com bubble style recession. The uniqueness of the liquidity crisis is not likely to be seen again by this.
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Most of the level headed people here are calling it for what it is - a long overdue correction. The markets have been too high for too long.
And TBH, in my 'typical murican self centered fashion', as long as I'm paying less for a gallon of gas than the rest of the world is paying for a litre of petrol, all is good. We just went under $2.00/gallon in the highest taxed state in the SE US. And others are silently celebrating because they know that if the market is dropping, the Fed won't raise the interest rates for fear of causing another recession.
In all reality, this is a boon for anyone not locked into Asian, in general, and Chinese, specifically, stocks, and anyone still invested in Russia has been a fool for too long already.
If China blows (which it appears it will) Australia goes down with it.
Also brace for ultra cheap tat on ebay!
China has already gone down.
http://www.infowars.com/financial-ex...fore-collapse/
Lebanon also seems to be in trouble.
Riots over lack of garbage collection and the govt. keeps saying they are debt-ridden?
No body cares in UK or US as stock market is something they have no interest in. Sadly your job, pension, house price the future of the country and your children will be linked to how stock market so people should care about corrupt banks and financial institutions like the ECB
http://www.ted.com/talks/kevin_slavi...ld?language=en
https://www.youtube.com/watch?v=vkSplHM-8tg
Infowars is a conspiracy theorist website, and not a reputable source of anything up to & including how to tie one's shoelaces.Originally Posted by rob4001
TheAnimus (24-08-2015)
Ok so what are legitimate sources? Sky Fox news owned by Rupert Murdock?? Robert Peston on the BBC
OK heres a link from CNBC major mainstream news network in US predicting the crash.
https://www.youtube.com/watch?v=E50iSHEwiy4
People who aren't Infowars. I'd take a guy with a sandwich board reading "REPENT THE END IS NIGH" before Infowars.
Well I gave a youtube link to cnbc predicting it would happen.
Its not a case of the end is nigh more of a global depression which mainstream will never admit to.
BBC youtube link to Steve Keen Professor of Economics at Kingston University predicting global depression in 2011
https://www.youtube.com/watch?v=rGkmgnprrIU
China cuts interest rates:
http://www.bbc.co.uk/news/uk-34052618
European markets have risen and the US markets will no doubt rise too in an hour or so.
On "alternative news" sites such as infowars, they are a bit like a stopped clock that reads the right time twice a day etc.
If you want a more legitimate leftfield opinion on world economics/geo-politics then try Peter Schiff. He is a "Gold/precious metals bug" though, so you always have to bear this in mind, but he has successfully built his business around investments that have more than the average amount of precious metal assets and bullion in. I do listen to him, even though I don't always agree with what he has to say.
Last edited by The Hand; 25-08-2015 at 01:37 PM.
Sometimes that is called a dead cat bounce..it will be interesting how this plays out.
http://www.bloomberg.com/news/videos...ajor-conundrum
Jim Rickards also a gold bug but is and expert on banking system there are lots of economists saying the fundamentals are messed up.
http://www.bbc.co.uk/news/business-35362397
£40 Billion wiped off the FTSE 100 just this morning as well as similar falls around the globe. The markets never really recovered from the Greek crisis/tragedy and Chinese sell off last summer.
so oil could sink as low as $10 a barrel oO
I bet the fishy duo are quietly happy now they are still with UK Plc.....
All these predictions of crashing and then an ultimate rise, how much of this actually happens? this kind of up and down predictions makes me wonder if it isn't so risky trying something like: http://www.binaryoptionstrategy.eu
. If chance is inevitable than why not?
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